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World Energy invited to submit Part II application for $2 billion US DOE loan guarantee to build Houston SAF facility


World Energy LLC announced March 18 that it has been invited by the U.S. DOE to submit the Part II application for an approximately $2 billion loan guarantee through the Title 17 Clean Energy Financing Program.

 




The Title 17 program, offered through the DOE’s Loan Programs Office and established by the Energy Policy Act of 2005, plays a crucial role in accelerating the deployment of innovative, large-scale clean-energy projects focused on reducing greenhouse-gas emissions.

 




If awarded, the loan guarantee will provide essential funding for the construction of World Energy’s Houston renewable fuels facility, which will produce sustainable aviation fuel (SAF) and clean hydrogen to decarbonize the hardest-to-abate sectors, including aviation and heavy-duty trucking.





“As a first mover in the SAF production and decarbonization markets, World Energy is committed to displacing fossil jet fuel with SAF as quickly and efficiently as possible,” said Gene Gebolys, World Energy founder and CEO.

 




World Energy said its invitation to advance in the loan guarantee application process highlights the company’s dedication to sustainable innovation and carbon-reduction solutions for hard-to-abate sectors.

 




The Houston facility will produce more than 250 million gallons of SAF annually, helping to increase the availability of SAF and drive meaningful progress towards decarbonizing aviation.

 




SAF delivers a lifecycle greenhouse-gas reduction of more than 80 percent compared to fossil jet fuel.

 




Across multiple facilities, World Energy plans to produce 1 billion gallons per year of SAF by 2030, as part of the SAF Grand Challenge, which sets a goal for U.S. producers to supply 3 billion gallons of SAF per year by 2030.

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