Slate to repurpose refinery into renewable fuels facility
Starwood Energy Group Global, Inc., a private investment firm that specializes in energy infrastructure investments based in Greenwich, Connecticut, U.S.A., and Slate Refining, LLC, an energy production and wholesale distribution and logistics company, have entered into an exclusive agreement to reconfigure Slate’s refinery located in Douglas, Wyoming, U.S.A., into a state-of-the-art renewable fuels production facility.
The facility, once completed, is expected to produce more than 100 million gallons annually of renewable fuels, such as renewable diesel, sustainable aviation fuel and arctic diesel.
“We are excited to partner with Slate on this Project and to bring our considerable expertise developing, building and operating world-class energy infrastructure projects to this opportunity,” said Himanshu Saxena, CEO of Starwood Energy. “The Douglas facility is ideally positioned to provide renewable fuels to serve both the U.S. and Canadian markets to help off-takers meet their renewable fuel goals. The energy sector is undergoing rapid transition with emphasis on ESG and decarbonization and Starwood Energy is proud to be at the forefront of these changes.”
“Slate is thrilled to be partnering with Starwood Energy on this exciting opportunity to be a leader in the development of renewable fuels. We are confident that the combination of our teams’ extensive operating experience and development expertise will result in a highly successful project,” said Jared Geilmann, CEO of Slate Refining. “We believe that this partnership will provide the framework to bring together all of the necessary resources, talent, creativity and experience to repurpose and operate a top-tier renewable fuels facility.”
Both Starwood Energy and Slate Refining are committed to the production of high-grade, low-carbon fuel alternatives. The development of the project is designed to provide viable renewable fuel options for a multitude of fuel end-users, helping these end-users achieve carbon neutrality.
Starwood Energy Group, which has existing general opportunity funds and affiliated investment vehicles, specializes in energy infrastructure investments. Starwood Energy has raised in excess of USD3 billion of equity capital and has executed transactions totaling more than USD8 billion in enterprise value.
Slate Refining is an energy production and wholesale distribution and logistics company focused on the development of renewable and transition fuel projects. Slate Refining’s team has experience owning and operating crude refining facilities, crude and fuel terminals, and crude and fuel pipelines in Douglas, Wyoming.
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