Sumitomo Corp. of Americas, a subsidiary of Tokyo-based Sumitomo Corp., has signed on as a project partner for the development of Louisiana Green Fuels LLC’s biorefinery and bioenergy plant in Caldwell Parish, reports World Bio Market Insights.
In light of the partnership, Strategic Biofuels, the parent company of LGF, has decided to shift its primary renewable fuel product from a mix of renewable diesel and renewable naphtha to sustainable aviation fuel (SAF). The partnership aims to fund most of the development capital needed to carry the project to financial investment decision (FID) and start of construction in early 2025.
As part of the agreement, SCOA will take an anchor position and lead the formation of a Japanese-based investment consortium. Upon taking FID, SCOA will also acquire rights to participate in a portion of the full project equity requirement.
