5E Changes Funding Strategy
Due to the budget cuts at the US Department of Energy (DOE) and the length of their loan application process, 5E is shifting their funding plans for four of their Sun to SAF facility projects. Instead of the DOE loan program, 5E is seeking financial investors and commercial lenders to share the opportunity of converting waste to liquid fuel.
Johnny Kraczek, CEO of 5E, explains, “The current Sun to SAF projects in our queue make both great environmental and excellent economic sense. We’re basically taking waste streams that municipalities are paying to dump into landfills, harvesting the usable materials, and converting them into high-end, high-value liquid fuels. Environmentally, this significantly reduces landfill and landfill gases. This also produces carbon-neutral jet fuel and diesel, and the economic gains are great! While the situation with the DOE is a bit of a setback, these are great projects that should move forward now.”
Each facility has a start-up budget of about $100M. This includes a budget of about $44M for construction and infrastructure, $30M for equipment, $11M for land, $5M for front end engineering, and $10 million for startup and working capital.
Interested parties should contact 5E either through the website (https://5elementenergy.com/contact-us/) or email (jtkraczek@5elementenergy.com Change to Info email?) for more information on these exciting opportunities.