Ballast Rock Announces Agreement Between Sumitomo Corporation of America and Strategic Biofuels to Invest in the Louisiana Green Fuels Project
–News Direct–
Ballast Rock, the integrated investment management company, today announced that Sumitomo Corporation of America (SCOA), a subsidiary of Sumitomo Corporation, a leading Fortune 500 global trading and business investment company dedicated to sustainability, has entered into a Joint Development Agreement for the Louisiana Green Fuels (LGF) project with Strategic Biofuels (SBf), the developer behind LGF.
Please click below for the full press release from SCOA:
SCOA Announces Investment in Louisiana Green Fuels Project
Ballast Rock and its investors provided the majority of the funding to date for the project, which has enabled the SBf team to advance the project to a stage where it was ready for this institutional investment from SCOA.
LGF, which will be built in Caldwell Parish in Louisiana, will be a state-of-the-art facility that will convert waste material from managed local sustainable lumber forests into renewable sustainable aviation fuel and naphtha. The facility will also incorporate advanced technologies that will enable it to capture and permanently sequester virtually all carbon emissions released during the process, and so will play a key role in helping the transportation sector in the United States achieve its carbon neutrality goals in the decades ahead.
The renewable fuels plant is expected to create numerous job opportunities in the region and support economic growth, while its advanced technology will add to US energy independence and help reduce greenhouse gas emissions.
"We believe this investment is a win-win for everyone involved," said Thomas Carroll, Founder and Chief Executive Officer of Ballast Rock. "We are proud to have supported this vital project from a very early stage, as well as working with the company and their other advisors to help secure the institutional funding required to advance the final pre-development stage of the project.
Simon OShea, Chief Investment Officer for Ballast Rock, said, SCOA is absolutely the right partner to help take the LGF project forward. We look forward to continuing our efforts to support the SBf team as they work to complete this transformative project that will benefit both the local community, renewable U.S. energy security, and the environment."
Ballast Rock is committed to providing access to its accredited individual investors to investments in real estate, venture capital, and private equity that have a positive environmental and social impact.
About Ballast Rock Group
Ballast Rock Group is an integrated investment management company specializing in delivering risk-adjusted returns, accurate, and timely advice, high quality frequent reporting, and direct access to management. Ballast Rock Group operates Ballast Rock Asset Management, Ballast Rock Private Wealth, and Ballast Rock Capital. Ballast Rock Asset Management comprises Ballast Rock Real Estate, which includes the firms Sunbelt multifamily real estate funds, and Ballast Rock Ventures, comprising venture capital and private equity teams. Ballast Rock Private Wealth is a registered investment advisor, with a focus on alternative strategies. Ballast Rock Capital is awaiting approval to become a FINRA-registered broker-dealer. Ballast Rock is committed to being a driver of positive change. The diversity of our team members brings valuable new perspectives to our industry for the benefit of our stakeholders and the broader community.
About Sumitomo Corporation of Americas
Sumitomo Corporation of Americas is the largest subsidiary of Sumitomo Corporation, a leading global trading company, with 108 locations in 65 countries and 20 locations in Japan. The entire Sumitomo Corporation Group consists of 900 companies and more than 80,000 personnel. The Sumitomo business is continuously expanding into a diverse range of products and services. As of December 31, 2023, Sumitomo had total assets of over $72 billion and cash-on-hand of over $4.26 billion (please refer to our website at www.sumitomocorp.com).
About Strategic Biofuels
Strategic Biofuels LLC is a team of energy, petrochemical and renewable fuels technology experts focused on developing a series of deeply negative carbon footprint plants in northern Louisiana that convert waste materials from managed sustainable forests into renewable fuels. The fuel is expected to qualify for substantial Carbon Credits under the Federal Renewable Fuel Standard Program and under the California Low Carbon Fuels Standard. For more information, visit www.strategicbiofuels.com.
About Louisiana Green Fuels
Louisiana Green Fuels will be the first biomass waste-to-fuels project by Strategic Biofuels LLC in North Louisiana at the Port of Columbia in Caldwell Parish. The biofuel refinery, adjacent power plant and the accompanying Class VI Carbon Capture and Sequestration (CCS) complex is expected to be the first sustainable aviation fuel project in North America to achieve negative carbon emissions. The feedstock for the plant is forestry waste from managed and sustainable plantation forests.
Investment Disclosure
The information contained in this press release has been prepared by Ballast Rock Holdings LLC (Ballast Rock) without reference to any particular readers investment requirements or financial situation. Potential investors are encouraged to consult with professional tax, legal, and financial advisors before making any investment into a private offering of securities. An investment in private securities would be speculative and would involve a high degree of risk. Investors must be prepared to bear the economic risk of such an investment for an indefinite period of time and be able to withstand a total loss of their investment. Please consider carefully the investment objectives, risks, transaction costs, and other expenses related to an investment prior to deciding to invest. Ballast Rock Capital LLC (BRC), MEMBER: FINRA / SIPC. BRCs registered head office is 460 King Street, Suite 200, Charleston, SC, 29403. Tel: 800-204-2513. To check background information about BRC and its representatives, visit FINRAs BrokerCheck. Please see important disclosure information in our Form CRS.
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COMTEX_447448760/2655/2024-02-07T12:02:18
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