USA BioEnergy Selects Bon Wier, Texas, for $1.7B Advanced Biorefinery
SCOTTSDALE, Ariz., February 15, 2022 (Newswire.com) - USA BioEnergy through its subsidiary, Texas Renewable Fuels (TRF), is pleased to announce the development of an advanced biorefinery that will convert 1M green tons of wood waste into 34M gallons annually of clean-burning renewable transportation fuel. Future expansion will double the plant's production capacity to 68M gallons annually. The company has secured fuel offtake agreements with a major trading and logistics company and one of the world's premier airlines and will announce its partners in greater detail in the coming months. The biorefinery's demand for wood waste will infuse the forestry industry in the Southeast Texas region with stable and significant long-term revenue. The Company benefits from state and federal credits and tax incentives created to incentivize development, offsetting the cost of renewable fuels.
"USA BioEnergy performed an extensive site search to identify the best location for our project. State and local incentives then became the key component of our decision and we're proud to select Bon Wier," said CEO, Nick Andrews, who went on to say, "Our investment in Newton County will exceed $3.4 Billion and provide significant employment opportunities."
"We are excited that USA BioEnergy has chosen East Texas as the home for their new advanced biorefinery," said Governor Greg Abbott. "This investment will further cement Texas as an innovative energy leader and will bring unprecedented economic opportunities to Bon Weir and Newton County. Thank you to USA BioEnergy for selecting Newton County for this incredible project and I appreciate the hard work of our state and local partners to secure this investment. I look forward to our continued work together as we create an even brighter future for the entire Lone Star State."
"We've had tremendous assistance from Economic Development in Newton County, including leadership from Judge Kenneth Weeks, Nancy Windham, President & CEO of Texas Forest Country Partnership, Don Iles with Sabine River Authority of Texas, Michelle Barrow, Superintendent Newton ISD, Rob Hughes, Executive Director, Texas Forestry Association and many others," said CEO Nick Andrews.
"USA BioEnergy is committed to delivering over 100M gallons of sustainable aviation fuel into LAX annually. Airlines using our fuel will eliminate over 50M metric tons of greenhouse gas emissions over a 20-year period. We achieve this by capturing CO2 which is sequestered in permanent geologic storage giving us the lowest carbon intensity score in the industry," stated Nick Andrews, CEO, USA BioEnergy.
The company expects project completion in late 2025.
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About USA BioEnergy:
USA BioEnergy is a renewable fuels development group based in Scottsdale, Arizona, created to produce renewable transportation fuels from wood waste. The Company plans to develop twelve facilities consecutively.
For more information, press only:
Suzanne McCain, Chief Communications Officer, USA BioEnergy
480-334-6720
For more information visit:
https://usabioenergy.com/
Source: USA BioEnergy
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