GeoJasPer transcoder from Dimin Software

"GeoJasper is the FREE Geo supporting command line transcoder between JPEG2000 and other formats. i.e. Converts image data from one format to another correctly transferring Geo information between GeoTiff and GeoJp2™ (GeoJpeg2000). It supports striped as well as tiled TIFF images and TIFF images geo-referenced through World Files (TFW). Moreover it may combine three 1 band TIFFs into one RGB image. There are batch files supplied within the distribution to simplify command line execution.

"This software is FREE and Open Source... It's based on JasPer library and follows it's respective licence, which is totally free now! GeoJP2™ is a trademark of Mapping Science, Inc. The GeoJP2™ format is the intellectual property of Mapping Science, Inc."

There is also more information on GeoJP2 on the website.