SGP BioEnergy 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.
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.
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.