BATON ROUGE, La., April 22, 2021 /PRNewswire/ -- Fidelis Infrastructure, LP and the Baton Rouge Area Chamber are pleased to announce on Earth Day 2021 a major milestone in the development of a $9.2 billion carbon negative renewable fuel complex at the Port of Greater Baton Rouge: Fidelis' portfolio company, Grön Fuels, LLC, has received its Minor Source Air Permit from the Louisiana Department of Environmental Quality.
The first phase of the multiphase, multiyear program is the 63,000-barrel-per-day Grön Fuels production facility that Fidelis expects will achieve final investment decision in 2021. The total complex is projected to result in more than 5,000 direct and indirect quality jobs and be implemented over an approximate ten-year period. The facility will produce green hydrogen, renewable diesel, arctic spec renewable diesel, sustainable aviation fuels and bio-plastic feedstocks. Through Capio Sequestration, LLC, another Fidelis portfolio company, tens of millions of tons of biogenic CO21 will be captured and sequestered over the life of the plant to create a carbon negative enterprise, which has the net impact of removing CO2 from the atmosphere – reversing climate change, rather than simply slowing it.
"We are grateful to the state and local leadership, our partners, customers and service providers for the positive support as we achieve this major milestone," said Bengt Jarlsjo, COO, partner, president and co-founder of Fidelis Infrastructure, LP.
Dan Shapiro, CEO, managing partner and co-founder of Fidelis, added, "Receiving the Minor Source Air Permit from the DEQ as we celebrate Earth Day 2021 and successfully rise above the pandemic is symbolic and meaningful for all involved in what is designed to be a fully integrated carbon-negative enterprise."
Situated strategically at the crossroads of rail, deep water ports, the Mississippi River and national pipeline connectivity, the Grön Fuels complex will leverage a strong local workforce as global markets continue to increase demand for low carbon energy, materials and consumer goods.
"This world-class facility will establish Baton Rouge as a leader in renewable energy, and today, we are one step closer to making it a reality," said Adam Knapp, president and CEO of the Baton Rouge Area Chamber. "Combining positive environmental impact with transformative economic growth, the Grön Fuels investment will put our region on the map as a model for sustainability and innovation in the energy industry."
About Fidelis Infrastructure, LP: Fidelis Infrastructure, LP is a Houston-based independent infrastructure fund management firm focused on investments in high demand renewable, transitioning energy, sustainability, and digital infrastructure sectors in North America. The Fidelis management team has extensive experience in structuring, developing and delivering new-build infrastructure in its core sectors. The team's experience includes project and corporate finance, mergers and acquisitions, project development, engineering, construction, and project management. www.fidelisinfra.com.
About Grön Fuels, LLC: Grön Fuels, LLC is a 63,000 barrel per day renewable fuels and products facility (the "Project") serving offtake customers and markets in the United States, Canada and Europe. Phase I of the Grön Eco-System will produce green hydrogen, renewable diesel, arctic spec renewable diesel, sustainable aviation fuels as well as bio-plastic feedstocks to serve growing demand for bio-based and low carbon materials. Through collaboration with Capio Sequestration, LLC, another Fidelis portfolio company, the Grön Eco-System will integrate biogenic carbon capture and sequestration to further enhance the environmental merits of the complex creating a fully integrated carbon-negative enterprise. https://fidelisinfra.com/project/gron-fuels-llc/
About the Baton Rouge Area Chamber: The Baton Rouge Area Chamber (BRAC) leads economic development in the nine-parish Baton Rouge Area, working to grow jobs and wealth and to improve the business climate and competitiveness in the region. Today, BRAC investors include more than 1,500 small businesses, mid-sized firms, large industry and entrepreneurial startups, as well as individuals and organizations that support business and economic development. In this capacity, BRAC serves as the voice of the business community, providing knowledge, access, services and advocacy. More information is available at brac.org.
1 Biogenic CO2, as opposed to fossil-based CO2, is CO2 produced from biogenic sources that recently captured atmospheric CO2 through the process of photosynthesis and are used to produce bio-based fuels and products. The capture and sequestration of Biogenic CO2 in the production of renewable fuels and materials therefore is equivalent to the capture and sequestration of atmospheric CO2. The removal of CO2 present in the atmosphere through a combination of photosynthesis, renewable energy production and biogenic carbon capture and sequestration ("BCCS") therefore has the effect of reversing the primary cause of climate change – the current levels of CO2 in the atmosphere are reduced by removing CO2 from the atmosphere through BCCS.
SOURCE Baton Rouge Area Chamber