SGP BioEnergy Secures US$250 Million Commitment for Biorefinery in Panama and Zero-Waste Ecosystem
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SGP BioEnergy (“SGP”) announces a $250 million equity commitment from Global Emerging Markets (GEM), a European private alternative investment group, to support the development of the Golden City Biorefinery in Colon, Panama and lay the groundwork for SGP’s transformative Zero-Waste Ecosystem.
“This project isn’t just a milestone; it’s a rallying cry demonstrating the extraordinary feats humanity can accomplish when we unite for a common cause. We maintain our support of it as a testament to the transformative power this initiative holds, not just for Panama, but for the region and the world at large.” Dr Jorge Rivera Staff, Secretary of Energy of the Republic of Panama.
The Golden City Biorefinery: A Global Beacon
The Golden City Biorefinery is poised to become one of the largest advanced biorefineries on the planet and will revolutionize development in the advanced biofuels sector. Situated at the Panama Canal, the biorefinery will produce up to 180,000 barrels daily and generate up to 405,000 metric tons of green hydrogen annually – with immediate access to more than 1,900 international ports.
As a part of SGP’s Zero-Waste Ecosystem platform, the Golden City Biorefinery project aims to achieve all 17 United Nations Sustainable Development Goals (SDGs). SGP’s forward-thinking model combines Profit, Access, and Impact for All, laying a robust foundation for global biofuel ecosystems.
GEM’s US$250 M equity commitment can be drawn upon following SGP’s public listing. Randy Delbert Letang, CEO of SGP BioEnergy, stated emphatically, “Securing this commitment of equity of this scale is one of many financing milestones necessary to accelerate our journey towards meeting the policy pledges of the United Nations by delivering on the implementation necessary to meet these mandates.” In addition to its equity commitment to SGP, GEM is actively focused on identifying and funding potential synergistic partners who can support the development of the biorefinery.
A Movement for Economic, Social, and Peaceful Impact
The Golden City Biorefinery is more than just an industrial project – it is a project that embodies the essence of a Culture of Peace and is set to create over 3 million living-wage jobs. The Refinery aligns economic impact with industrial growth, promotes environmental sustainability, and supports peaceful coexistence with nature and nations. “This project will have a resounding impact, not just in Panama, but globally,” emphasized Mariano Rivera, Equity Investor and Hall of Fame New York Yankees Pitcher.
A Landmark Agreement between SGP and Latino Farmers and Ranchers International (LFRI)
The announcement follows on the heels of SGP and the Latino Farmers and Ranchers International organization (LFRI) signing of a groundbreaking definitive agreement during the 78th session of the United Nations General Assembly where SGP and LFRI committed to developing a minimum of 10 million acres of industrial hemp for SGP’s biorefinery and biomanufacturing efforts. Latinos Farmers and Ranchers International (LFRI) represents Latino farmers, ranchers, and producers throughout the US and manages over 32 million acres of production.
Facility development is on schedule for Phase 1 production to begin in early 2027. Once fully operational, the biorefinery will produce up to 180,000 barrels per day (2.6 billion gallons per year) of advanced biofuel, mostly Sustainable Aviation Fuel (SAF), and up to 405,000 metric tons of green hydrogen annually.