Green Fuels inks memorandum of understanding on biodiesel refining in Panama

Green Fuels Panama

Gloucestershire based Green Fuels Ventures  and Telfer Tanks have signed a Memorandum of Understanding (MOU) for the deployment and operation of distributed-scale biodiesel production facilities in the Republic of Panama.

The project’s objective is to refine biodiesel and advanced biofuels for the distributed energy, marine, aviation, and general transportation sectors from a variety of sustainably sourced, biogenic feedstocks.

Under the MOU, GFV and Telfer intend to form a joint venture company, Triton Green Fuels, which will import and operate a 50,000-litre-per-day FuelMatic GSX50 biorefinery, manufactured at Green Fuels’ engineering works in Berkeley, Gloucestershire.

The companies aim to establish one or more biodiesel facilities at Telfer’s fuel storage facility and terminal in the Free Trade Zone of the port of Colón and, as blend mandates come into effect and market demand increases, elsewhere in Panama with smaller FuelMatic models under a hub and spoke supply chain strategy. This joint venture is the first phase for a potential future HVO (hydrotreated vegetable oil) and SAF (Sustainable Aviation Fuel) production facility using Green Fuels’ technology.

Manuel Thompson-Flôres, CEO of Green Fuels Ventures América Latina, said: “Having recently shipped our first latest-generation FuelMatic in Latin America to Brazil, we are delighted to announce this project with a major fuel bunkering operator like Telfer Tanks, which will provide real impetus for our ambition of promoting sustainable, distributed-scale, circular bioeconomies in the region. Triton Green Fuels’ contribution to decarbonisation of transport and power generation through the use of biofuels will be significant, and Panama’s strategic location means it can serve as a major focal point and hub for the production and distribution of advanced biofuels.”

On behalf of Telfer, Samil Far, Director, said, “Telfer Tanks is excited to announce our partnership with Green Fuels of the UK. Together we will be the first oil terminal in Panama to refine and commercialise advanced biofuels for distributed energy and general transportation purposes and, more specifically, for the marine sector.

“Our main goal is to encourage others and promote the use of biofuels in the country and throughout the region to mitigate the effects of carbon emissions and combat climate change.”

Green Fuels is a pioneer in renewable fuels. Founded in 2003, Green Fuels has supplied biofuel equipment to customers in more than 80 countries in the process saving some 6 million tonnes of carbon. Identifying aviation and marine as strategic fuel markets of the future, Green Fuels Research was established in 2014 to develop IP in these areas. The group has attracted $16m in direct and indirect research grant funding to date, with R&D facilities in Berkeley, Gloucestershire.

Green Fuels was awarded a Royal Warrant of Appointment to HRH the Prince of Wales in 2013 and has participated in many pioneering events in its field including the first 100% biofuel-powered jet flight and the first 100% biofuel-powered train.

Green Fuels has offices in London, Mumbai, Muscat, and Rio de Janeiro.