The West Side Journal
The development of the $9.2 billion Grön Fuels complex at the Port of Greater Baton Rouge by Fidelis’ portfolio company reached a major milestone, receiving its Minor Source Air Permit from the Louisiana Department of Environmental Quality on Thursday, April 22.
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 10-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 CO2 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 BRAC. “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.”