Published by Todd Bush on March 18, 2024
BOSTON, March 18, 2024 /PRNewswire/ -- World Energy, LLC, a low-carbon solutions pioneer and leading SAF producer, today 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.
>> In Other News: 8 Rivers Appoints Christopher Richardson Chief Executive Officer
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. 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 (SAF) and clean hydrogen to decarbonize the hardest-to-abate sectors, including aviation and heavy-duty trucking.
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."
World Energy's invitation to advance in the loan guarantee application process highlights the company's dedication to sustainable innovation and carbon reduction solutions for hard-to-abate sectors. The Houston facility will produce more than 250 million gallons of SAF annually, helping to increase the availability of SAF and drive meaningful progress towards decarbonizing aviation. SAF delivers a lifecycle greenhouse gas reduction of more than 80% compared to fossil jet fuel. Across multiple facilities, World Energy plans to produce one billion gallons per year of SAF by 2030, as part of the Biden administration's SAF Grand Challenge, which sets a goal for US producers to supply three billion gallons of SAF per year by 2030.
DOE's invitation to submit a Part II application is not an assurance that DOE will invite an applicant into the due diligence and term sheet negotiation process, that DOE will offer a term sheet to an applicant, that DOE will issue a loan guarantee, or that the terms and conditions of a loan guarantee will be consistent with terms proposed by an applicant. The foregoing matters are wholly dependent on the results of DOE review and evaluation of a Part II Application, and DOE's determination whether to proceed.
World Energy is a low-carbon solution pioneer working with leading companies to help meet their net-zero commitments. With operations in sustainable aviation fuel, clean hydrogen, advanced biofuels, and fully transparent decarbonization services, World Energy is collaborating to confront the biggest decarbonization challenges in the hardest-to-abate sectors. For over 25 years World Energy has been at the forefront of commercializing renewable fuels and was the world's first commercial-scale sustainable aviation fuel producer. Today, World Energy is investing more than $15 billion into major new projects in California, Texas, and Newfoundland to help leaders accelerate their efforts to make net-zero real. Learn more at www.worldenergy.net.
SOURCE World Energy
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside this Issue 🏭 Nel ASA: Hy Stor Energy Places Gigawatt Capacity Reservation for Mississippi Clean Hydrogen Hub 🛺 Gearing Up for a Green Highway: Air Products Paves the Way for Hydrogen Transp...
Inside this Issue ⚛️ Air Products Announces Plans to Build Network of Commercial-Scale Multi-Modal Hydrogen Refueling Stations Connecting Edmonton and Calgary, Alberta, Canada 🤝 RepAir and Cella L...
Inside this Issue ⛽ FirstElement Fuel, World-Leader in Hydrogen Refueling Solutions, Selected as a Top 40 US GreenTech Company by Time Magazine 💸 Advanced Hydrogen Producing Equipment Wins Top Pri...
Messer Launches with ZeCarb New "Carbon Capture as a Service" Offering
_PRESS RELEASE_ Bad Soden / Frankfurt am Main April 26, 2024 [**Messer**](http://www.messergroup.com) **launches with** [**ZeCarb**](https://zecarb.messergroup.com) **new "Carbon Capture...
Nel ASA: Hy Stor Energy Places Gigawatt Capacity Reservation for Mississippi Clean Hydrogen Hub
OSLO, Norway, April 26, 2024 (GLOBE NEWSWIRE) -- [**Nel ASA**](https://www.nelhydrogen.com) **(Nel, OSE:NEL)** partners with [Hy Stor Energy](https://hystorenergy.com/) on the **Mississippi Clean H...
BOSTON, April 26, 2024 /PRNewswire/ -- Trains that could travel to more tucked-away parts of the country with zero emissions are an example of the potential behind [battery electric (BEV) and fuel ...
Greensboro, N.C., April 24, 2024 (GLOBE NEWSWIRE) -- [Volvo Trucks North America](https://www.volvotrucks.us/) has announced a significant advancement in its _sustainability efforts by fueling newl...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.