By Godwin Anyebe
SGP BioEnergy has announced a US$250 million equity commitment from Global Emerging Markets (GEM), a European private alternative investment group, to support the development of the Golden City Biorefinery in Colon, Panama and lay the groundwork for SGP’s transformative zero-waste ecosystem.
The Golden City Biorefinery is poised to become one of the largest advanced biorefineries on the planet and will revolutionise development in the advanced biofuels sector. Situated at the Panama Canal, the biorefinery will produce up to 180 000 bpd and generate up to 405 000 tpy of green hydrogen – with immediate access to more than 1900 international ports.
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As a part of SGP’s zero-waste ecosystem platform, the Golden City Biorefinery project aims to achieve all 17 UN’s Sustainable Development Goals (SDGs).
The announcement follows on the heels of SGP and the Latino Farmers and Ranchers International Organization (LFRI) signing of a groundbreaking definitive agreement during the 78th session of the UN General Assembly, where SGP and LFRI committed to developing a minimum of 10 million acres of industrial hemp for SGP’s biorefinery and biomanufacturing efforts.
Facility development is on schedule for Phase 1 production to begin in early 2027. Once fully operational, the biorefinery will produce up to 180 000 bpd of advanced biofuel, mostly sustainable aviation fuel (SAF).
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