World Energy invited to submit U.S. Department of Energy loan guarantee application

In Massachusetts, World Energy announced it has been invited by the U.S. Department of Energy (DOE) to submit the Part II Application for an approximately $2 billion loan guarantee through the Title 17 Clean Energy Financing Program.

The Title 17 program, offered through the DOE’s Loan Programs Office (LPO) and established by the Energy Policy Act of 2005, plays a crucial role in accelerating the deployment of innovative, large-scale clean energy projects focused on reducing greenhouse gas emissions, World Energy said.

If awarded, the loan guarantee will provide essential funding for the construction of World Energy’s Houston renewable fuels facility, which will produce sustainable aviation fuel and clean hydrogen, the company said.

World Energy founder and CEO, Gene Gebolys said: “As a first mover in the SAF production and decarbonization markets, World Energy is committed to displacing fossil jet fuel with SAF as quickly and efficiently as possible. We applaud the leadership shown by the Biden-Harris administration and the Department of Energy to collaborate with private industry to meet this critical need.”

The Houston facility will produce more than 250 million gallons of SAF annually, the company added. Across multiple facilities, World Energy plans to produce one billion gallons per year of SAF by 2030.

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