DevvStream Corp. (Nasdaq: DEVS) and Southern Energy Renewables Inc. have received approval for revenue bonds to support a biomass-to-fuel facility in Louisiana.
The facility aims to produce methanol and sustainable aviation fuel at scale using wood-waste biomass and carbon capture technologies.
The authorization marks a significant step in the project finance process, demonstrating progress towards creating a U.S. supply of advanced fuels.
Biomass-to-Fuel Facility Support
LCDA approval allows for up to $402 million in revenue bonds to back Southern Energy Renewables' biomass-to-fuel project in Louisiana.
Commercial-Scale Production
The facility plans to use regional wood-waste biomass and carbon capture for the production of methanol and sustainable aviation fuel at commercial levels.
Progress in U.S. Energy Leadership
The approval enhances U.S. energy leadership by promoting the creation of domestic advanced fuels supporting both local and global markets.
- The LCDA authorization paves the way for Southern Energy Renewables to seek additional funding and final approvals through a volume cap allocation process.
- While the authorization does not guarantee funding, it signifies a significant milestone towards establishing a traditional project finance structure for the biomass-to-fuel facility.
The approval of $402 million in revenue bonds by the LCDA represents a crucial step towards enhancing the U.S. energy sector's sustainability and competitiveness through the production of advanced fuels. This collaboration between DevvStream and Southern Energy Renewables signals a commitment to environmentally conscious energy solutions.