Monday, May 27, 2024

Bia Energy Operating Company Unveils Major Milestones for Low Carbon Methanol Project in Northwest Louisiana

by BIZ Magazine

Shreveport, Louisiana – Bia Energy Operating Company (“Bia Energy”) proudly announced significant advancements in its transformative low carbon methanol project at the Port of Caddo-Bossier in northwest Louisiana. With plans to construct a $1.2 billion facility spanning 74 acres, Bia Energy aims to revolutionize methanol production while championing environmental sustainability.

According to Dr. Ana Rodriguez, CEO and Co-founder of Bia Energy, “We are thrilled to have reached this milestone and update the market on our plans for this low carbon methanol project.” Dr. Rodriguez emphasized the project’s positive environmental impact and its role in job creation and economic development in the region.

The project, which has completed its Front-End Engineering Design (FEED) study and secured all major permits, is poised to produce approximately 550,000 metric tons of blue and bio-methanol annually. This represents a significant step forward in reducing carbon emissions, with the facility designed to reduce emissions by over 92% compared to traditional methanol production methods.

In a strategic move to market its methanol production, Bia Energy has entered into a 20-year Commercialization and Marketing Services Agreement with Macquarie Commodities Trading. Aarnoud van Weelderen, Senior Managing Director in Macquarie’s Commodities and Global Markets business, expressed Macquarie’s commitment to supporting Bia Energy’s efforts in providing low carbon solutions to various industries.

Furthermore, Bia Energy has partnered with CapturePoint LLC to capture and transport CO2 emissions from the facility to a designated storage site in central Louisiana. Tracy Evans, CEO of CapturePoint LLC, underscored the significance of this collaboration in advancing carbon management solutions.

The project is expected to create nearly 350 construction jobs at peak construction and 75 direct new jobs once operational. Susan Bonnett-Bourgeois, Secretary of Louisiana Economic Development, lauded the project’s potential to drive economic growth in North Louisiana.

Construction of the methanol production and processing facility is slated to commence following financial close in 2024, with commercial operations expected to begin in late 2026.

Bia Energy’s commitment to cost-effective technologies and sustainable energy solutions aligns with its mission to drive towards net-zero emissions and contribute to a greener future.

For more information about Bia Energy, visit www.bia-energy.com.

About Macquarie Group:
Founded in 1969, Macquarie employs over 21,000 people in 34 markets. Commodities and Global Markets (CGM), an operating group of Macquarie, has more than 40 years of partnering with clients to provide capital and financing, risk management, market access, and physical execution and logistics solutions across commodities, financial markets, and asset finance sectors.

About CapturePoint LLC:
CapturePoint LLC and CapturePoint Solutions LLC, together “CapturePoint,” are privately held companies providing a complete range of carbon management services for an era of energy transition. CapturePoint Solutions is developing regional deep underground carbon storage sites, including the Central Louisiana Regional Carbon Storage Hub (“CENLA Hub”), which has the potential to safely and permanently store over a billion tons of CO2 in the coming decades.

About LED:
Louisiana Economic Development is responsible for strengthening the state’s business environment and creating a more vibrant Louisiana economy. LED cultivates jobs and economic opportunity for the people of Louisiana and promotes business opportunity for employers of all sizes.

For more information, visit OpportunityLouisiana.com.

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