World Energy to complete Paramount Refinery conversion to renewable fuels
In the United States (US), Boston based advanced biofuel producer, World Energy, LLC (World Energy) has recently announced that it is investing US$350 million over the next two years to complete the conversion of its Paramount, California facility into one of the cleanest fuel refineries in the world.
According to a statement on October 24, the project will enable World Energy Paramount to process 306 million (US) gallons (≈ 1.18 billion litres) annually. The conversion to renewable jet, diesel, gasoline, and propane fuels will reduce both refinery and fuel emissions while supporting more than 100 advanced, green economy jobs.
Today, we are making significant investments in California that will allow us to create more local construction and full-time jobs. This facility is a direct and tangible result of environmental policies passed by the California State Legislature, said Gene Gebolys, CEO at World Energy Paramount.
In March this year, World Energy acquired the 45 million gallon (≈ 174 million litre) per annum southern California renewable diesel producer AltAir Paramount, LLC and all of its associated assets including a 63-acre refinery complex with 1.7 million barrels of product storage, a truck rack with 28 thousand barrels per day of throughput capacity, rail storage for up to 70 rail cars, and pipelines stretching over 71 miles connecting the facility to major southern California distribution hubs including Long Beach.
This project will transform the Paramount facility into California’s most important hub for the production and blending of advanced renewable fuels. This investment will better enable us to deliver much needed low-carbon solutions to our customers. Importantly, with 150 million gallons of annual renewable jet production capacity, World Energy will be able to help the commercial aviation industry combat its greenhouse gas emissions, said Bryan Sherbacow, CCO of World Energy.
World Energy is one of the largest and longest-serving advanced biofuel suppliers in North America. Founded in 1998, the company operates biodiesel manufacturing plants in Houston, TX, Natchez, MS, Rome, GA, Harrisburg, PA, Hamilton, ON, a renewable diesel refinery in Paramount, CA, and distribution hubs throughout the US and Canada.