In Louisiana, Strategic Biofuels announced a strategic investment commitment from Magnolia Sustainable Energy Partners (M-SEP), a newly formed Japanese-based investment consortium created by Sumitomo Corporation of Americas (SCOA) and JX Nippon Oil & Gas Exploration Corporation (JX).
The investment from M-SEP will be used to further advance the company’s flagship Louisiana Green Fuels (LGF) project, an ultra-low carbon negative SAF plant located in Caldwell Parish, Louisiana.
“Our partnership with JX and Sumitomo through their new consortium, M-SEP, will bring both financial support and the deep carbon capture technical expertise that is needed to continue advancing toward construction,” said Paul Schubert, CEO of Strategic Biofuels. “Our LGF project has first and foremost been a mission of low-carbon sustainability, and the milestones we have achieved to-date are a testament to how strategic and collaborative partnerships like this one can advance cleaner technologies.”
JX will add its expertise to the company’s LGF project, leveraging its carbon capture and sequestration (CCS) experience gained in building and operating the Petra Nova Carbon Capture, Utilization and Storage (CCUS) project near Houston.
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Tags: Caldwell Parish, Louisiana, Louisiana Green Fuels, Strategic Biofuels
Category: Fuels
