Woodland Biofuels Announces $1.35 Billion Investment in Renewable Energy Facility
Key Ideas
- Woodland Biofuels plans a $1.35 billion investment in a renewable natural gas plant and ultra-green hydrogen facility at the Port of South Louisiana.
- Using waste biomass, the company aims to produce sustainable biofuel and expects to remove up to 660,000 tonnes of carbon dioxide annually.
- The project, with phase 1 starting in 2028, will receive $250 million in incentives from the Louisiana Economic Development to support its growth and create workforce development solutions.
- The facility at the Globalplex facility in the Port of South Louisiana signifies a step towards sustainable energy and carbon reduction efforts in the region.
Canadian renewable fuel company Woodland Biofuels has unveiled plans for a $1.35 billion investment in a renewable natural gas (RNG) plant and ultra-green hydrogen facility at the Port of South Louisiana. The company's process involves converting waste biomass into sustainable biofuel, with the new facility expected to remove significant amounts of carbon dioxide annually. The project, set to begin commercial operations in 2028, is aimed at boosting sustainability and reducing carbon emissions. To facilitate the development, the Louisiana Economic Development has offered a substantial incentive package of $250 million, including grants and workforce development solutions. This initiative marks a significant step towards a greener future and underscores the growing emphasis on renewable energy sources and environmental stewardship in the region.