Strategic Biofuels Announces Strategic Investment from Magnolia Sustainable Energy Partners [Yahoo! Finance]
SUMITOMO CORP S/ADR (SSUMY)
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Source: Yahoo! Finance
COLUMBIA, La. April 9, 2024 /PRNewswire/ -- Strategic Biofuels , a leading sustainable aviation fuels (SAF) project developer, announced today a strategic investment commitment from Magnolia Sustainable Energy Partners (M-SEP), a newly formed Japanese-based investment consortium created by Sumitomo Corporation of Americas (SCOA) and JX Nippon Oil & Gas Exploration Corporation (JX). The investment from M-SEP will be used to further advance the company's flagship Louisiana Green Fuels (LGF) project, an ultra-low carbon negative SAF plant located in Caldwell Parish, Louisiana "Our partnership with JX and Sumitomo through their new consortium, M-SEP, will bring both financial support and the deep carbon capture technical expertise that is needed to continue advancing toward construction," said Dr. Paul Schubert , CEO of Strategic Biofuels. "Our LGF project has first and foremost been a mission of low-carbon sustainability, and the milestones we have achieved to-date are a testament to
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