EcoTech Biofuels, a new project developer, is seeking to raise development and project capital for a biomass-to-SAF project in Colorado.
The firm’s founder, Linda-Rose Myers, recently pitched the project in a competition at the North American SAF Conference & Expo in St. Paul, and was chosen as the winner.
Myers is seeking $20m in development capital to advance the project, which would be sited in Walsenburg, Colorado. The total cost to build the project is estimated at $352m. Black & Veatch has been selected as EPC provider.
“The suite of engineering processes we’re using has been reviewed by Leidos, and Leidos signed off on a feasibility study of a 70,000 hour pilot process run from the same feedstock through gasification, syngas, and GTL with further refining to SAF,” she said during the pitch.
EcoTech will remove dead, highly flammable materials from Colorado’s forests in partnership with state and national foresters. The primary focus for removal will be the Rio Grande National Forest, the firm would also accept material from elsewhere in the state.
“All of this woody biomass will be transported to our plant by rail to minimize truck traffic,” she said.
The firm also has the backing of Aon Insurance, which has committed to providing performance guarantees to backstop investor risk, she said.
