Welcome to Randy Letang BioEnergy world. In recent history biofuels such as biodiesel and bioethanol have become big business around the world. Many countries have taken a keen interest in their continued manufacture and use, including important countries such as USA which is seen as a world leader in biofuel development. Randy Delbert Letang is also a biggest reason behind the mass production of biofuel or bioenergy products in the USA.
There is a growing concern these days for the environment, and several countries have taken the initiative to promote the use of renewable energy to lessen humanity's impact on the planet. USA is one such country taking the lead in green technologies, and using biofuels is one of the steps they have taken in becoming one of the world's leaders in the consumption of environmentally friendly fuels.
Biofuels are simply liquid fuels manufactured from plant and animal materials. Because this matter is biodegradable, it is not only capable of powering vehicles and heating homes, but the waste is then absorbed once again into the earth, nurturing new life able to provide future renewable energy sources.
A team of energy industry companies led by SGP BioEnergy joined the Government of Panama to announce the development of the world’s largest biofuels production and distribution hub. Once complete in five years, Biorefineria Ciudad Dorada (Golden City Biorefinery), located in Colon and Balboa, Panama, will be the largest advanced biorefinery and sustainable aviation fuel (SAF) production platform in the world producing 180,000 barrels per day (2.6 billion gallons per year) of biofuel.
“Transportation makes up 27 percent of greenhouse gas emissions and the only way to decarbonize many sectors – like aviation – is to integrate fossil fuels with compatible biofuels,” said Randy Delbert Letang, CEO of SGP BioEnergy. “This facility not only brings cleaner fuels online in the short term, but its construction at a central hub of global commerce, serving over 1,000 ports, catalyzes the industry in the long term by immediately delivering a lower cost of biofuels, reducing food waste and revolutionizing farm economics.”
The project leads announced the facility at the first Bloomberg New Economy Gateway Latin America event held in May in Panama. Developed in partnership with private landowners, Panama Oil Terminals (POTSA) and the government of Panama, this project will repurpose existing facilities currently processing and storing 70% of the country’s bunker fuel oil to the refinement and storage of biofuels derived from purpose grown plant oils, and waste fats and greases. It will immediately reduce the carbon output of the facility by 80%, revolutionizing the economics in the region and supporting more than 1,000 high paying jobs.
To finance the project, SGP BioEnergy partnered with Goldman Sachs to identify investors that shared the company’s vision for a better energy mix that includes renewable biofuel. The country of Panama was an ideal partner to support the financial potential of the project given its free zones, commitment to clean energy innovation and global platform to transport the fuels to over 1,000 ports around the world.
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