Strategic Biofuels announced that it has finalized its partnership with Koch Project Solutions (KPS) for its deeply negative carbon footprint renewable fuels project, Louisiana Green Fuels (LGF), in Caldwell Parish, Louisiana.
The companies have agreed that KPS will construct the renewable fuels plant on a lump sum turnkey basis with parent company backed guarantees with liquidated damages for performance and schedule delays. KPS will be responsible for constructing, commissioning, and startup of this facility which will produce the world’s lowest carbon footprint liquid fuel.
“Koch Project Solutions is excited to continue our work with Strategic Biofuels,” said Antoine Schellinger, senior vice president of corporate development for Koch Project Solutions. “We are confident in Strategic Biofuel’s ability to bring innovative solutions to market. We look forward to helping move the Louisiana Green Fuels project forward.”
With this agreement, Strategic Biofuels further solidifies a strong team of industry leaders. KPS has served in a Project Management role for the LGF Project since its inception in late 2020 and has substantially contributed to the Project’s rapid achievement of major project milestones.
Last month, Strategic Biofuels announced that LGF had moved into the Front End Engineering Design (FEED) or FEL-3 phase of engineering. Upon completion of FEED, expected in the first quarter of 2023, KPS will provide Strategic Biofuels with a Lump Sum Turnkey price for the plant which will allow Strategic Biofuels to secure project financing and begin construction.
Once in operation the project will convert forestry waste feedstock into cleaner-burning renewable diesel producing approximately 34 million gallons of renewable fuel per year. The project achieves its negative carbon footprint through carbon capture and sequestration (CCS), renewable power, and forestry waste feedstocks. The LGF plant’s emission for production of its renewable diesel represents a reduction in greenhouse gas emissions of approximately 400% relative fossil diesel fuel and is the equivalent of removing about a quarter of a million cars from the road.
“Achieving this agreement with Koch further demonstrates our shared goal and commitment to ushering in a new wave of commercial carbon capture projects, changing the industry by offering cleaner solutions, and ultimately pushing the boundaries of what is commercially scalable,” said Dr. Paul Schubert, chief executive officer of Strategic Biofuels.
“We are tremendously proud of what has been accomplished to-date and know that the invaluable experience and innovative solutions the Koch team brings to the table will have a lasting impact as we move forward together to bringing our revolutionary plant online.”
