NEXT Energy Group, Inc. Planning Advanced Renewable Fuels Production Centers in Pacific Northwest
- Over 600 million gallons per year of renewable fuels to service U.S. and Canadian customers
- 92% of production volume committed under long-term agreements
- $1.2 billion investment to create 1,000+ construction jobs and 275 permanent jobs
HOUSTON, TEXAS, July 18, 2018 – NEXT Energy Group, Inc (“NEXT”) announced today plans to build, own, and operate renewable fuels production facilities in the U.S. Pacific Northwest. NEXT is completing diligence on multiple locations along the Columbia River in Washington and Oregon where it plans to build up to two facilities that will produce 37,500 barrels per day (over 600 million gallons per year) of renewable diesel, green jet fuels, and renewable propane and gasoline additives. NEXT plans to soon announce the specific locations selected for siting the projects once further diligence and site agreements have been completed.
Renewable diesel is a second-generation advanced biofuel made from 100% renewable feedstocks including used cooking oils, animal tallows and virgin seed and vegetable oils. Renewable diesel is known as a “drop-in” replacement fuel because it can directly replace petroleum-based diesel, at blends up to 100%, in all vehicles and equipment using regular diesel. Renewable diesel overcomes many of the deficiencies of bio-diesel with improved cold flow properties, higher energy content, better fuel quality, and the ability to be transported in all existing transportation fuels infrastructure.
The renewable fuels NEXT will produce satisfy the Federal and State renewable and low carbon fuel standards that major petroleum refineries and fuel distributors in the western U.S. and Canada operate under. NEXT fuels provide an up to 85% reduction in Green House Gases (“GHGs”) versus conventional fossil fuel-based products. NEXT planned production volume of transportation fuels from renewable feedstock will allow over 48 million barrels per year of crude oil to remain in the ground, reducing the U.S. dependence on foreign oil and reducing potential global carbon emissions by over 20 million metric tons per year.
NEXT commitment to build and operate plants in the Pacific Northwest will include a total capital investment of over $1.2 billion, the creation of over 1,000 construction jobs and another 275 full-time direct higher family wages jobs during operations.
About NEXT: NEXT Energy Group, Inc., an affiliate of Houston based Waterside Energy Development, is a private company focused on producing and delivering clean transportation fuels globally. The Company’s owners, partners, and customers include major energy, technology and service companies serving the fuel needs of consumers worldwide.