Ecopetrol : April 1-2014 Ecopetrol receives Patents for Processes to produce Biofuels

• One of the patents was granted to a development with the Universidad Industrial de

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that the Office of the Superintendent of Industry and Commerce of Colombia granted two patents for alternative forms for producing biofuels developed by the Company.
The first patent was granted to the "Improved process for obtaining fermentable sugars using microalgae and macroalgae," developed in conjunction with the Universidad Industrial de Santander under an agreement with Colciencias. It has to do with a simple, sustainable, and high-yield alternative for producing alcohol, without any impact on food security.
The second patent is for a "Process for the production of ethers of glycerol using a current of liquid petroleum gas (LPG) of an olefinic type." This development permits processing glycerol, a sub product of biofuel production, to then add it to the biodiesel, which increases the volume available and improves some of its properties.
The patents have a time in effect of 20 years and are the first ones received by the company in
2014. These patents are in addition to the 56 Ecopetrol has already been assigned in Colombia, Venezuela, Ecuador, Brazil, the United States, Mexico, China, Peru, Nigeria and Russia.
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Ecopetrol is Colombia's largest integrated oil & gas company, where it accounts for 60% of total production. It is one of the top 50 oil companies in the world and the fourth largest oil company in Latin America. The Company is also involved in exploration and production activities in Brazil, Peru and the United States Gulf Coast, and owns the main refineries in Colombia, most of the network of oil and multiple purpose pipelines in the country, petrochemical plants, and is entering into the biofuels business.

This release contains forward-looking statements relating to the prospects of the business, estimates for operating and financial results, and those related to growth prospects of Ecopetrol. These are merely projections and, as such, are based exclusively on the expectations of management concerning the future of the business and its continued access to capital to fund the Company's business plan. Such forward-looking statements depend, substantially, on changes in market conditions, government regulations, competitive pressures, the performance of the Colombian economy and the industry, among other factors; therefore, they are subject to change without prior notice.

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