USA BioEnergy plans to strengthen the Texas Renewable Fuels Project via  DOE Title XVII Loan Guarantee Program

In Arizona, USA BioEnergy, LLC announced Texas Renewable Fuels has been invited by the U.S. Department of Energy (DOE) Loan Programs Office (LPO) to submit a Part II application for a proposed $1.63 billion loan guarantee under the Title XVII Innovative Clean Energy Loan Guarantee Program. “Provided that our application is approved, we plan to combine it with Tax-Exempt Bonds through our lead underwriter, Citigroup, and our co-underwriter, Stifel. The appeal of the loan guarantee program funding is that it offers the lowest cost of capital, which becomes monumentally important when funding infrastructure-sized projects,” said USA BioEnergy’s CEO Nick Andrews. “Getting invited to Phase II is no small undertaking as the LPO does not extend invitations lightly and believes the company and the project have the potential to join the LPO portfolio.”  This news comes on the heels of USA BioEnergy’s announcement of a 20-year offtake agreement with Southwest Airlines for SAF with a volume sufficient to produce more than two billion gallons of net zero fuel. Under the agreement, Southwest may purchase up to 680 million gallons of neat sustainable aviation fuel. USA BioEnergy is a renewable fuels development and integration group based in Scottsdale, Arizona. USA BioEnergy plans to create ultra-low carbon sustainable aviation fuel, renewable diesel, and renewable naphtha from sustainably sourced forest thinnings.

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