Global Clean Energy Holdings, Inc. Signs Agreement with Pacific Gas & Electric to Develop “Behind the Meter” Cost and Carbon Cutting Energy Projects
October 19 2021 - 2:56PM
Business Wire
Global Clean Energy Holdings, Inc. (OTCQX: GCEH)
announced that it has signed a Master Services Agreement with
Pacific Gas and Electric Company (NYSE: PCG) under which
PG&E will identify, design, and implement renewable generation
and energy management projects at GCEH’s Bakersfield Renewable
Diesel Refinery to help reduce the refinery’s operating costs and
carbon footprint.
- PG&E’s Sustainable Solutions Turnkey (SST) team will act as
the EPC Contractor responsible for the engineering, procurement,
construction, commissioning, and permitting for each approved
project.
- Projects under consideration include an onsite solar plant,
heat recovery from the hydrotreating process to produce both
electrical and process steam generation, lighting, variable
frequency drives, energy storage, HVAC upgrades, building controls,
boiler plant improvements, etc.
- These projects are expected to not only help reduce the plant’s
operating costs but to also reduce the refinery’s overall carbon
intensity (CI), thus increasing the value of the LCFS credits
generated from the sale of the plant’s renewable diesel,
sustainable aviation fuel, renewable propane, and renewable
naphtha.
To kick off this collaboration, PG&E will be issuing a
Contract Opportunity Announcement (COA) for a 10 MW solar plant to
be located at the refinery site in Bakersfield.
In addition, GCEH has purchased two electric railcar movers for
use at the refinery, which are expected to be eligible for
substantial cost savings under PG&E’s “EV Fleet” program.
“Combining the talents and extensive experience of GCEH’s energy
and sustainability team with that of PG&E’s provides a winning
combination in helping the refinery site to be a more profitable
and a more sustainable operation, while doing its part to address
the impacts of climate change,” said Richard Palmer, CEO of Global
Clean Energy Holdings.
“We are thrilled to partner with PG&E on this important
group of projects to generate renewable power, and to optimize the
integration of various systems and technologies at our Bakersfield
Refinery,” said Richard Palmer. “These projects are intended to
significantly reduce the refinery’s operating costs and further
reduce the carbon intensity of our finished renewable
transportation fuels.”
“This is an exciting collaboration,” said Aaron August, Vice
President of Business Development and Customer Engagement for
PG&E. “Our SST team is perfectly positioned to assist customers
like GCEH drive significant cost and carbon reductions behind the
meter by designing and installing ‘state of the art’ green energy
systems. We’re proud to be doing this kind of work, day in and day
out, for our customers.”
About Global Clean Energy Holdings
Global Clean Energy Holdings, Inc. (“GCEH”) is a uniquely
positioned vertically integrated renewable fuels company. GCEH’s
farm-to-fuel strategy has been in place since the inception of its
business, to control the full integration of the entire biofuels
supply chain from the development, production, processing, and
transportation of feedstocks through to the refining and
distribution of renewable fuels. GCEH is retooling and constructing
its renewable diesel refinery in Bakersfield, California, which
when completed in early 2022 will be the largest renewable fuels
facility in the western United States and the largest in the
country that produces renewable fuels from non-food-based
feedstocks. More information can be found online at
www.gceholdings.com.
Forward-Looking Statements
Certain matters discussed in this press release are
“forward-looking statements” of Global Clean Energy Holdings, Inc.
within the meaning of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that statements in this press
release which are not strictly historical statements, including,
without limitation, the Company’s ability to reduce its operating
costs and its carbon intensity, are forward-looking statements and
are subject to a number of risks and uncertainties. Important
factors that could cause actual results, developments and business
decisions to differ materially from forward-looking statements are
described in the sections titled “Risk Factors” in our filings with
the Securities and Exchange Commission, including our most recent
Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20211019006018/en/
Global Clean Energy Holdings, Inc. Natalie Findlay
contact@gceholdings.com (424) 318-3518
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