HOBO | Project #1 Midwest
USA
Greenfield
Overview
Status
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Greenfield
Region
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North America
Geography
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USA
State
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Iowa
Equity Owner
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HOBO Renewable Diesel, Evolve Transition Infrastructure LP (Stonepeak)
Proponent
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HOBO Renewable Diesel
Output
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Renewable diesel
Renewable naphtha
Sustainable aviation fuel
Type of electricty
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Capacity
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120 million gallons/year
Financing
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Evolve Transition Infrastrucure ($600m)
Technology
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Technical Advisors
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Advisors
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SMBC
Project Contact
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Lawyers
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Project Cost
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$ 1.7bn
Offtaker
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Commercial Operations Date
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2027 (previously 2025)
Decommission Date
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FID
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Description
HOBO Renewable Diesel’s initial project is a 9,300 barrel a day, or 120 million gallons annually, production facility located in Clinton, Iowa.
The project will produce both renewable diesel and sustainable aviation fuel.
Initially, HOBO Renewable Diesel expected to be in full production by Q4 2025. In June 2024, ReSource reported the company was working with SMBC to raise project financing for the project.
In 2021, HOBO received a commitment for $600m of equity financing to build the project from Evolve Transition Infrastructure. The agreement is detailed in SEC filings, but Evolve was subsequently de-listed and appears to have been wound down.