Green Fuels Ventures, Telfer Tanks ink MOU on biodiesel refining in Panama
In a move reinforcing Green Fuels’ commitment to its biodiesel refining capacity-building strategy in Latin America, Green Fuels Ventures and Telfer Tanks have signed a memorandum of understanding (MOU) concerning deployment and operation of distributed-scale biodiesel production facilities in the Republic of Panama. The project’s objective is to refine biodiesel and advanced biofuels for the distributed energy, marine, aviation, and general transportation sectors from a variety of sustainably sourced, biogenic feedstocks.
Under the MOU, GFV and Telfer intend to form a joint venture company, Triton Green Fuels, which will import and operate a 50,000-liter-per-day FuelMatic GSX50 biorefinery, manufactured at Green Fuels’ engineering works in Berkeley, Gloucestershire, U.K. The companies’ objective is to establish one or more biodiesel facilities at Telfer’s fuel-storage facility and terminal in the Free Trade Zone of the port of Colón and, as blend mandates come into effect and market demand increases, elsewhere in Panama with smaller FuelMatic models under a hub and spoke supply chain strategy. This joint venture is the first phase for a potential future renewable diesel and sustainable aviation fuel production facility utilizing Green Fuels’ SABR technology via the established HEFA production pathway.
“Having recently shipped our first latest-generation FuelMatic in Latin America to Brazil, we are delighted to announce this project with a major fuel bunkering operator like Telfer Tanks, which will provide real impetus for our ambition of promoting sustainable, distributed-scale, circular bioeconomies in the region,” said Manuel Thompson-Flôres, CEO of Green Fuels Ventures América Latina, at the signing. “Triton Green Fuels’ contribution to decarbonization of transport and power generation through the use of biofuels will be significant, and Panama’s strategic location means it can serve as a major focal point and hub for the production and distribution of advanced biofuels.”
Responding on behalf of Telfer, Samil Far, director, said, “Telfer Tanks is excited to announce our partnership with Green Fuels of the U.K. Together we will be the first oil terminal in Panama to refine and commercialize advanced biofuels for distributed energy and general transportation purposes and, more specifically, for the marine sector. Our main goal is to encourage others and promote the use of biofuels in the country and throughout the region to mitigate the effects of carbon emissions and combat climate change.”