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Industry

Energy

Company Type

Renewable Energy Production

Size

$225 Million

Investment Type

Debt/Equity

OVERVIEW


Oak Ridge Biorefinery, LLC, a joint venture between CarbonSweep, LLC and Proton Power, Inc. (“PPI”), is seeking $225.0 M of capital (in the form of debt and/or equity) to develop and construct a Waste-to-Diesel project in Oak Ridge TN

Centerpiece technology is core fuel conversion system developed by PPI incorporating high temperature pyrolysis protected by a family of IP and backstopped by 10 year Insurance Policy underwritten by Aon/Lloyds covering both debt and equity returns


Targeted feedstock is approximately 96,000 tons per year of MSW-derived engineered fuel produced from existing sister facility in Berkeley County, SC  under 25-year municipal waste supply contract  supplemented by locally sourced biomass, as required


Berkeley facility consists of a mixed material processing facility designed, engineered, and supplied by Bulk Handling Systems (“BHS”), and intermediate processing and conditioning system designed, engineered and supplied by Loesche Energy Systems (“LES”), both of whom are CarbonSweep consortium members

Overview

OPPORTUNITY


Each CarbonSweep project addresses several different global markets/needs:

the growing market for renewable diesel fuel, as the world’s governments and energy producers move away from fossil-based fuels and toward Energy Transitions markets

the global landfill crisis, and plans adopted by national and local governments around the globe to reduce the amount of solid waste headed into landfills, and divert less of their valuable land resources for waste disposal

climate action plans adopted by national and local governments around the globe to reduce carbon emissions and the regulatory support available to implement effective strategies to offset carbon

fluctuations and constrictions in the markets for recyclable materials

expanding global demand for residual low carbon materials

the growing market for carbon credits (including the rapidly expanding voluntary market) created by projects or facilities that reduce, offset or eliminate carbon emissions

SOLUTION


The Oak Ridge Biorefinery responds to each of these global markets and governmental and industry needs by:

Producing substantial and consistent quantities of renewable diesel fuel, certified as meeting EN-590 standards under the UKs Renewable Transport Fuel Obligation, for sale under a long-term (10-year) offtake agreement, for export to the European market


Consistently and reliably diverting >65% of MSW waste away from traditional landfill disposal management


Based upon internal calculations performed by CarbonSweep, providing a project that, as a whole, will have a CI score of -164 gco2e/mj and will result in a net reduction in carbon emissions of >-240,000 mtco2e/yr, based primarily upon the diversion of waste from landfills and the replacement of fossil-derived fuel with renewable diesel fuel

Solution