SGP BioEnergy Adds Green Hydrogen to Planned World's Largest Advanced Biofuel Production Facility

October 12, 2022

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(SGP BioEnergy/CISION) • Partnership with SGP BioEnergy, Panama, and Topsoe Sustainable Aviation Fuel will refine 180,000 barrels of advanced biofuels a day and generate 405,000 metric tons of green hydrogen annually while having the lowest carbon footprint of any biofuel refinery in the world.

Groundbreaking marks a major step in the realization of world's largest advanced biofuel refinery in 2025.

Partnership with bi-coastal Panama Oil Terminals (POTSA) provides key global logistics and access to over 1,900 global ports.

SGP BioEnergy announced today the addition of green hydrogen production to the largest planned advanced bio refinery in the world allowing the facility to operate with net-zero emissions. In May, SGP BioEnergy announced the plan for Biorefineria Ciudad Dorada (Golden City Biorefinery), located in Colon and Balboa, Panama.

Facility construction is on schedule for Phase 1 production to begin in 2025, with all land rights secured to allow for the groundbreaking of physical construction in 2023. Once fully operational the biorefinery will produce 180,000 barrels per day (2.6 billion gallons per year) of biofuel and 405,000 metric tons of green hydrogen annually.

"This facility is truly a model of the energy transition," said Randy Delbert Letang, CEO of SGP BioEnergy.

Multiple partners are working together to make the refinery a reality and many of them joined SGP BioEnergy today to conduct the groundbreaking. Attendees included Gustavo Cienfuegos from engineering firm Topsoe, Yasser Williams from Corporacion CSN, S.A., Minister of Commerce and Industries of Panama Federico Alfaro, and Secretary of Energy of Panama Dr. Jorge Rivera Staff.

"It is exciting to see the progress on this facility that will bring more than 1,000 jobs to Panama," said Minister Alfaro. "The addition of green hydrogen to this facility is further evidence of Panama's role as a source of innovation and real solutions to address climate change," said Secretary Staff.

Over the last few months, SGP BioEnergy has convened political and industry leaders to ensure this massive project stays on schedule and can meet the growing demand for advanced biofuels to produce Sustainable Aviation Fuel, as well as Renewable Diesel for ground transportation and lower carbon marine fuel.

In addition to establishing these foundational elements, SGP BioEnergy has worked with Topsoe to incorporate its HydroFlex™ and H2 Bridge™ technologies to produce green hydrogen from the waste carbon and renewable fuels by-products produced during the refining process.

The HydroFlex™ technology is Topsoe's proprietary technology for taking a wide range of biofuel feedstocks including soy, camelina, canola/rapeseed, and hazelnut and refining them into advanced biofuels. The H2 Bridge™ technology captures waste propane and carbon off gas from the refining process, converts them into green hydrogen and provides that back to the refining facility to power facility operations.

"We have seen great success with the HydroFlex™ and H2 Bridge™ technologies in renewable fuels applications for other plants," said Henrik Rasmussen, Managing Director, The Americas, Topsoe. "We are excited to bring these proven technologies together for what will be the largest renewable fuels plant in South America to not only produce a product that decarbonizes transportation but to produce it in a way that decarbonizes the manufacturing process as well. It is a true model for a low carbon energy future."

To finance the project, SGP BioEnergy partnered with Goldman Sachs to identify investors that shared the company's vision for a better energy mix that includes renewable biofuel. The country of Panama was an ideal partner to support the financial potential of the project given its free zones, commitment to clean energy innovation and global platform to transport the fuels all over the world.

The production of renewable energy at a large scale is necessary now more than ever. All over the globe decarbonization, corporate commitments, and regulatory initiatives are taking place and the existing Panama free zones offer a unique opportunity to develop a scalable, logistically superior, and flexible way of collecting, processing, and distributing sustainable biomass feedstocks into renewable products. It also provides a global platform to transport the fuels all over the world to customers committed to decarbonizing their operations.

About SGP BioEnergy

https://sgpbioenergy.com

About Topsoe

Denmarkwww.topsoe.comREAD MORE

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SGP BioEnergy is a bioenergy business leader committed to the science of solving global energy challenges sustainably. Independent of legacy oil interests, our ecosystem of partners in agriculture, finance, production, and technology are working together to make industrial-scale advanced biofuels a reality for an established set of customers that share our passion for a more sustainable future. To successfully produce biofuels at scale requires three main elements: 1) Reliable feedstock that is cost comparative to fossil fuels. 2) Refining production that is efficient and can readily deliver fuel to buyers and 3) Established customers committed to purchase biofuel to ensure a return on investment. SGP BioEnergy believes that business begins with people and collaboration. Through our collaborative approach we have built strong partnerships in all three areas to make biofuel production at scale a reality and create long-term solutions to realize a more sustainable world. To learn more, visit Founded in 1940, Topsoe is a global leader in developing solutions for a decarbonized world, supplying technology, catalysts, and services for worldwide energy transition. Our mission is to combat climate change by helping our partners and customers achieve their decarbonization and emission-reduction targets, including those in challenging sectors: aviation, shipping, and production of crucial raw materials. From low-carbon or zero-carbon chemicals to renewable fuels and plastic upcycling, we are uniquely positioned to aid humanity in realizing a sustainable future. Topsoe is headquartered in , with 2,100 employees serving customers all around the globe. To learn more, visit (Biofuels International) (Biofuels Digest) (Bioenergy International) (BNAmericas) (Inversiones & Negocios)

SGP BioEnergy Secures US$250 Million Commitment From Global Emerging Markets (“GEM”) for Its Golden City Biorefinery in Panama and Zero-Waste Ecosystem, Signaling a Transformative Financial Commitment to Growing Sustainable Energy (SGP BioEnergy/Business Wire)

Excerpt from SGP BioEnergy/Business Wire: SGP BioEnergy Secures US$250 Million Commitment From Global Emerging Markets (“GEM”) for Its Golden City Biorefinery in Panama and Zero-Waste Ecosystem, Signaling a Transformative Financial Commitment to Growing Sustainable Energy

"This project isn't just a milestone; it's a rallying cry demonstrating the extraordinary feats humanity can accomplish when we unite for a common cause. We maintain our support of it as a testament to the transformative power this initiative holds, not just for Panama, but for the region and the world at large." Dr Jorge Rivera Staff, Secretary of Energy of the Republic of Panama.

SGP BioEnergy (“SGP”) announces a $250 million equity commitment from Global Emerging Markets (GEM), a European private alternative investment group, to support the development of the Golden City Biorefinery in Colon, Panama and lay the groundwork for SGP’s transformative Zero-Waste Ecosystem.

“Securing this commitment of equity of this scale is one of many financing milestones necessary to accelerate our journey towards meeting the policy pledges of the United Nations by delivering on the implementation necessary to meet these mandates.”
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The Golden City Biorefinery: A Global Beacon
The Golden City Biorefinery is poised to become one of the largest advanced biorefineries on the planet and will revolutionize development in the advanced biofuels sector. Situated at the Panama Canal, the biorefinery will produce up to 180,000 barrels daily and generate up to 405,000 metric tons of green hydrogen annually - with immediate access to more than 1,900 international ports.

As a part of SGP’s Zero-Waste Ecosystem platform, the Golden City Biorefinery project aims to achieve all 17 United Nations Sustainable Development Goals (SDGs). SGP's forward-thinking model combines Profit, Access, and Impact for All, laying a robust foundation for global biofuel ecosystems.

GEM's Commitment
GEM’s US$250 M equity commitment can be drawn upon following SGP’s public listing. Randy Delbert Letang, CEO of SGP BioEnergy, stated emphatically, "Securing this commitment of equity of this scale is one of many financing milestones necessary to accelerate our journey towards meeting the policy pledges of the United Nations by delivering on the implementation necessary to meet these mandates." In addition to its equity commitment to SGP, GEM is actively focused on identifying and funding potential synergistic partners who can support the development of the biorefinery.

A Movement for Economic, Social, and Peaceful Impact
The Golden City Biorefinery is more than just an industrial project – it is a project that embodies the essence of a Culture of Peace and is set to create over 3 million living-wage jobs. The Refinery aligns economic impact with industrial growth, promotes environmental sustainability, and supports peaceful coexistence with nature and nations. "This project will have a resounding impact, not just in Panama, but globally," emphasized Mariano Rivera, Equity Investor and Hall of Fame New York Yankees Pitcher.

A Landmark Agreement between SGP and Latino Farmers and Ranchers International (LFRI)
Today’s announcement follows on the heels of SGP and the Latino Farmers and Ranchers International organization (LFRI) signing of a groundbreaking definitive agreement during the 78th session of the United Nations General Assembly where SGP and LFRI committed to developing a minimum of 10 million acres of industrial hemp for SGP’s biorefinery and biomanufacturing efforts. Latinos Farmers and Ranchers International (LFRI) represents Latino farmers, ranchers, and producers throughout the US and manages over 32 million acres of production.

Project Timeline
Facility development is on schedule for Phase 1 production to begin in early 2027. Once fully operational, the biorefinery will produce up to 180,000 barrels per day (2.6 billion gallons per year) of advanced biofuel, mostly Sustainable Aviation Fuel (SAF), and up to 405,000 metric tons of green hydrogen annually.

About SGP BioEnergy
SGP BioEnergy is a bioenergy development pioneer on a mission to revolutionize how the world consumes energy sustainably. Founded by bioenergy pioneer Randy Delbert Letang, SGP BioEnergy, is a New York-based, integrated bioenergy products development company that has a plan to power the world with low carbon emitting fuels, energy and products for the next 100 years through an intelligent and integrated system. Unfettered by ties to the traditional oil sector, we've assembled a powerhouse network of partners across agriculture, finance, manufacturing, and technology. We're not just imagining a cleaner future — we're making it happen for a growing roster of forward-thinking clients committed to sustainability.

But our vision goes beyond biofuels, energy and products. We're committed to achieving all 17 United Nations' Sustainable Development Goals. That's why we've designed our flagship Golden City Biorefinery project as a part of our Zero-Waste Ecosystem strategy with five pivotal Impact Pillars: Industrial Innovation, Economic Empowerment, Humanitarian Impact, Accountability, and Shared Ownership. Each pillar rigorously adheres to the highest ESG standards, creating a cohesive platform that comprehensively addresses global sustainability targets.

For more information about SGP BioEnergy: www.SGPBioEnergy.com

For more information about the recent SGP & LFRI agreement: https://www.newswire.com/news/sgp-bioenergy-launches-its-ready-grow-feedstock-development-program-22131656

About GEM
Global Emerging Markets (“GEM”) is a Luxembourg-based, $3.4 billion private alternative investment group with offices in Paris, New York, and The Bahamas. GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 560 transactions in more than 70 countries.

For more information about Global Emerging Markets: http://www.gemny.com READ MORE