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NEXT Renewable Fuels to go public, rebrand as NXTCLEAN Fuels

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By NEXT Renewable Fuels

November 23, 2022

Advanced Biofuels 

NEXT Renewable Fuels Inc. and Industrial Tech Acquisitions II Inc. on Nov. 21 announced the signing of a business combination agreement expected to result in a newly combined company to be known as NXTCLEAN Fuels Inc.

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Neste delivered over 500,000 gallons (1,500 metric tons) of Neste MY Sustainable Aviation Fuel to Los Angeles International Airport (LAX). This SAF delivery was made possible by a close cooperation with LAXFUEL.

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Babcock & Wilcox announced on Nov. 21 that it has signed an agreement with NRG Korea to study the applicability of B&W's BrightLoop technology for a hydrogen generation facility using biomass fuel in South Korea.

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The Inflation Reduction Act, signed by President Joe Biden in August, allocated nearly $20 billion to support climate-smart agriculture. The USDA Natural Resources Conservation Service is now seeking comments inform how it will implement those funds.

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DG Fuels LLC on Nov. 14 announced it has signed key land agreement for the development of its second proposed SAF facility. That 175 MMgy facility is planned for development in Maine. DGF's first SAF plant is under development in Louisiana.

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U.S. EPA Administrator Michael S. Regan has announced the appointment of 20 members, including the new committee chair and committee vice-chair to the Farm, Ranch, and Rural Communities Federal Advisory Committee.

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Scientists from NASA and Boeing recently met near Seattle to test whether an aircraft with engines burning different blends of sustainable aviation fuels produced fewer soot particles than traditional jet fuel.

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Neste has agreed to acquire the used cooking oil (UCO) collection and aggregation business and related assets in the U.S. from Crimson Renewable Energy Holdings LLC. The transaction includes several assets on the West Coast.

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The U.S. EPA on Nov. 17 released updated SRE data, reporting that four new SRE petitions were filed under the RFS during the past month. According to the agency, 9 SRE petitions are now pending, up from five that were pending as of mid-October.

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The U.S. EPA on Nov. 17 released data showing nearly 1.81 billion renewable identification numbers (RINs) were generated under the Renewable Fuel Standard in October, up from 1.71 billion generated during the same month of last year.

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UGI Corp. announced Nov. 15 that Cayuga RNG has entered into an agreement to develop its fifth project to produce renewable natural gas (RNG) in upstate New York. The project is expected to be operational in 2024.

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Renewable natural gas (RNG) developer Opal Fuels held its first earnings call on Nov. 15, reporting that the company had 38 projects in operation, construction or advanced development. Opal went public in July 2022.

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All Nippon Airways, Japan's largest airline, announced its second ANA Green Jet will enter service on regular scheduled domestic flights. To commemorate its inaugural take off, ANA will use SAF produced by Neste.

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Use of low-carbon renewable diesel and biodiesel fuels are delivering significant GHG and other emissions reductions in California, and hold expanded opportunities for reducing carbon emissions from the trucking sector in other states.

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On Nov. 15, United Airlines Ventures announced a strategic investment in Next Renewable Fuels, which is permitting a flagship biofuel refinery in Port Westward, Oregon, with expected production beginning in 2026.

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The Senate Ag Committee on Nov. 15 continued its work to develop the 2023 Farm Bill with a hearing focused on rural development and energy programs, including HBIIP, REAP, the BioPreferred Program, and 9003 loan guarantee program.

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Calumet Specialty Products Partners L.P. is considering plans to ramp up SAF production at its Montana Renewables biorefinery to as high as 230 MMgy. That facility, currently focused on renewable diesel production, began commissioning this fall.

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WestJet on Nov. 2 announced a three-month commitment to operating all flights, from San Francisco International Airport (SFO) to Calgary International Airport (YYC) with sustainable aviation fuel (SAF) produced by Neste.

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A multi-scale lifecycle assessment conducted by researchers from Yale Schhol of the Environment's Center for Industrial Ecology explains how eco-friendly uses for urban tree waste could substantially reduce greenhouse gas emissions in U.S. cities.

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The Biden-Harris Administration, through the U.S. Department of Energy, on Nov. 4 announced $1.5 billion from President Biden's Inflation Reduction Act to build and upgrade America's national laboratories.

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CastleRock Green Energy, a renewable energy and infrastructure fund based in New York, New York, has announced its intention to build a pair of 20 million gallon per year biofuel production facilities in the area of Shelton, Washington.

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Gevo Inc. announced progress with its RNG project during a Q3 earnings call held Nov. 8. The company also provided an update on its SAF project under development in South Dakota and discussed plans to pursue CCS.

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The U.S. EPA on Nov. 9 delivered its proposed rule to set RFS blending obligations for 2023 and beyond to the White House Office of Management and Budget. OMB review marks a final stage before a proposed rule is released for public comment.

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CargoAi and Neste have announced a pioneering partnership that enables freight forwarders and their clients to significantly reduce the carbon emissions of their cargo transport through the purchase of Neste MY Sustainable Aviation Fuel.

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The Renewable Fuels Association and Growth Energy are among the organizations that participated in a virtual roundtable with the U.S. Department of Treasury on Nov. 7 that focused on implementation of the Inflation Reduction Act.

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The USDA maintained its forecast for 2022-'23 soybean oil use in biofuel production in its latest World Agricultural Supply and Demand Estimates report, released Nov. 9. The estimate for 2021-'22 soybean oil use in biofuel was increased.

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NextEra Energy Resources LLC and Coffee County, Alabama, announced plans to build the first landfill renewable natural gas (RNG) production facility in the state of Alabama. The project is currently expected to be operational in early 2024.

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Aemetis Inc. released third quarter financial results on Nov. 3, reporting a 44 percent increase in revenue. During an earnings call, company officials discussed progress with the company's ethanol, biogas, SAF and biobased diesel projects.

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The U.S. EPA and Growth Energy filed a notice with the U.S. District Court for the District of Columbia on Nov. 4 agreeing to extend the Nov. 16 deadline for the release of a proposed rule to set 2023 RFS RVOs. That deadline is now set for Nov. 30.

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Gevo Inc. has announced a new fuel sales agreement with Iberia Airlines, which is part of International Airlines Group . The agreement provides Iberia Airlines 6 million gallons per year of sustainable aviation fuel (SAF) for five years.

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