Covenant Energy selects Topsoe’s renewable fuel technology
Covenant Energy, which is developing Canada’s first renewable diesel plant in Saskatchewan, has chosen Haldor Topsoe’s HydroFlex™ renewable fuel technology to produce clean diesel from canola oil. Topsoe will also provide its H2bridge™ hydrogen technology based on the modular Haldor Topsoe Convection Reformer™ (HTCR) technology.
The 6,500 barrel-per-day renewable diesel unit is scheduled to be operational by early 2024.
Covenant Energy is a private company founded in 2019 with the mission to become a Canadian leader in the transformative green fuel industry through the production of renewable diesel and sustainable aviation fuel (SAF).
“We are very pleased that Covenant Energy has selected Topsoe’s HydroFlex™ and H2bridge™ technologies for this state-of-the-art, standalone renewable diesel facility. These market-leading technologies are complementary and together they will provide Covenant with one of the lowest carbon intensity fuels in the world,“ says Henrik Rasmussen, managing director, The Americas, Haldor Topsoe Inc.
“Haldor Topsoe is an industry leader. Covenant Energy’s goal to produce the cleanest renewable diesel in the world, at Canada’s first of kind production facility, is made possible by Topsoe’s innovative technology. Our renewable diesel and sustainable aviation fuel will have a competitive advantage under Canada’s Clean Fuel Regulations,” says Josh Gustafson, president and CEO at Covenant Energy.
With HydroFlex™, customers can convert low-value feedstocks to renewable fuels that qualify for the California Low Carbon Fuel Standard (LCFS) credit. The innovative HydroFlex™ process layout offers lower capital expenditure (CAPEX), but also a lower energy consumption during operation, resulting in a lower Carbon Index (CI). Topsoe’s HydroFlex™ can be deployed in both grassroots units and revamps for co-processing or stand-alone applications.
Topsoe’s H2bridge™ delivers a circular solution to refineries and biorefineries by replacing fossil feedstocks with renewable LPG or naphtha to produce renewable hydrogen, thereby generating significant greenhouse gas emissions savings and lower the carbon intensity of the renewable fuels produced in the HydroFlex™ unit.
In addition, Covenant Energy announced the appointments of Keenan Hohol as general counsel, Everett Rueve as senior advisor, Engineering & Operations, Mike Corr as senior advisor, Commercial Operations, and Mark Roe as senior advisor, Feedstock & Supply.
To complement the industry, technology and executive team, Turner International Group Ltd (TIG) has been selected as corporate finance advisor and will guide Covenant Energy in its project financing. TIG, based in Vancouver, British Columbia, Canada, but with a global reach, has experience in structuring and advising on a range of alternative energy and sustainable project financing.