Starwood Energy and Slate Refining Partner to Develop, Construct and Operate Renewable Fuels Facility
August 17, 2021 in
GREENWICH, Conn., Aug. 17, 2021 – Starwood Energy Group Global, Inc. (“Starwood Energy”), a private investment firm that specializes in energy infrastructure investments, and Slate Refining, LLC (‘Slate”), an energy production and wholesale distribution and logistics company, announced today that they have entered into an exclusive agreement to reconfigure Slate’s refinery located in Douglas, Wyoming into a state-of-the-art renewable fuels production facility (the “Project”). Upon completion of the Project, the facility is expected to produce over 100 million gallons annually of renewable fuels, such as Renewable Diesel, Sustainable Aviation Fuel and Arctic Diesel. Starwood Energy’s extensive experience developing, owning, operating and financing renewables and energy transition projects, coupled with Slate’s operational and refining expertise, brings a complementary and world-class team to the Project.
“We are excited to partner with Slate on this Project and to bring our considerable expertise developing, building and operating world-class energy infrastructure projects to this opportunity,” said Himanshu Saxena, CEO of Starwood Energy. “The Douglas facility is ideally positioned to provide renewable fuels to serve both the U.S. and Canadian markets to help off-takers meet their renewable fuel goals. The energy sector is undergoing rapid transition with emphasis on ESG and decarbonization and Starwood Energy is proud to be at the forefront of these changes.”
“Slate is thrilled to be partnering with Starwood Energy on this exciting opportunity to be a leader in the development of renewable fuels. We are confident that the combination of our teams’ extensive operating experience and development expertise will result in a highly successful project,” said Jared Geilmann, CEO of Slate. “We believe that this partnership will provide the framework to bring together all of the necessary resources, talent, creativity and experience to repurpose and operate a top-tier renewable fuels facility.”
Both Starwood Energy and Slate are committed to the production of high-grade, low-carbon fuel alternatives. The development of the Project is designed to provide viable renewable fuel options for a multitude of fuel end-users, helping these end-users achieve carbon neutrality.
About Starwood Energy Group
Starwood Energy Group is a private equity investment firm based in Greenwich, CT that specializes in energy infrastructure investments. Through its existing general opportunity funds and affiliated investment vehicles, Starwood Energy has raised in excess of $3 billion of equity capital and has executed transactions totaling more than $8 billion in enterprise value. For more information, please visit www.starwoodenergygroup.com.
About Slate Refining
Slate is an energy production and wholesale distribution and logistics company focused on the development of renewable and transition fuel projects. Slate’s team has experience owning and operating crude refining facilities, crude and fuel terminals, and crude and fuel pipelines in Douglas, Wyoming. Slate’s management team has decades of experience in refining, fuels distribution, logistics, project development and execution for more information, please visit www.slateenergy.com.