Skip to main content

Northwest Advanced Bio-Fuels in final discussions with investors on SAF project

Published by
Hydrocarbon Engineering,


Northwest Advanced Bio-Fuels, LLC (NWABF) is in final funding discussions to raise hundreds of millions of dollars for its sustainable aviation fuel (SAF) project, which will produce and supply 60+ million gallons of SAF annually for Delta Air Lines.

NWABF is currently holding serious, active investment discussions with US infrastructure and energy investment firms, and also with industry partners, in reviewing the SAF investment opportunity. The company has already received investment term sheets for the construction CAPEX of the project, from multiple qualified investors eager to participate in the project’s funding needs. As a result, final development funding is expected to close soon.

These discussions are the logical “next step” forward in NWABF’s move toward finalising funding for the SAF project in Washington State. Receiving financial commitments from key Energy and Infrastructure investment firms (not identified due to regulatory compliance issues) is a key sign of the project headed in the right direction, says Dave Smoot, manager and founder of the NWABF project.

“Our project is strong, on target and we’re getting investment interest from the right kind of investment partners,” he said. “Our projected production costs for this project are economically sound, and we have access to long-term feedstock from forest slash, sawmills, and chipping operations. And, of course, we have the 10-year Offtake Agreement with Delta Airlines, the largest agreement of its kind in the country. We are excited about the future.”

In 2019, Delta Air Lines invested US$2 million to collaborate with Northwest Advanced Bio-Fuels to study the financial feasibility of a biofuel production facility that produces sustainable aviation fuel and other biofuel products.

Earlier this year, NWABF also announced the selection of Black & Veatch, the global engineering, procurement, and construction firm, to spearhead the project as its EPC of record.

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/13112020/northwest-advanced-bio-fuels-in-final-discussions-with-investors-on-saf-project/

You might also like

 

Rise of the robots

Fintan Duffy, Re-Gen Robotics, Northern Ireland, explanis how robot technologies can allow for a safer, cleaner and more efficient alternative to 'man entry' tank cleaning.

 
 

Embed article link: (copy the HTML code below):


 

This article has been tagged under the following:

Biofuel news