SGP BioEnergy Agreement to Develop a Minimum of 10 Million Acres of Industrial Hemp to Supply its Panama Golden City Biorefinery Project

SGP BioEnergy release

NEW YORK, NEW YORK, September 19, 2023 – (NewsWire) – At a landmark Roundtable event sponsored by SGP BioEnergy (“SGP”) during the 78th session of the United Nations General Assembly, and the NGO on Private Sector Development at the United Nations to promote the Culture of Peace, SGP BioEnergy, in collaboration with Latino Farmers and Ranchers International (LFRI) organization, which represents a farming demographic which controls over 32 million acres and generates over $21.8 Billion in annual sales, per official statistics from the National Agriculture Statistical Service Census (NASS/USDA), signed a definitive landmark agreement to develop and supply industrial hemp to fuel SGP’s Golden City Biorefinery being developed in Panama, and planned localized manufacturing operations targeting OEMs in the auto, chemical and industrial markets and their desire to transition to more sustainable products.

Industrial Hemp is a non-food, carbon-neutral crop, which naturally enhances soil for food production and requires little water to grow, among many advantages. LFRI was instrumental in the legalization of Industrial Hemp in the United States and possesses an intellectual property suite of decades-long know-how and hands-on expertise in growing and optimizing this crop. SGP intends to apply proprietary genetics to enhance the production of the non-narcotic Industrial Hemp. In addition to their commitment to adhering to SGP’s stringent ESG plan, both groups committed to never displacing food production as part of their bioenergy growth strategy.

Aligned with all 17 Sustainable Development Goals (SDGs) prescribed by the United Nations and the 2030 Agenda, SGP BioEnergy’s Zero-Waste Ecosystem platform presents a comprehensive guide to implementing industrial-scale bioenergy projects with a low to net zero carbon footprint. The integrated ecosystem is built upon five key Impact Pillars: Industrial, Economic, Humanitarian, Accountability, and Ownership. These pillars ensure the projects surpass SGP’s stringent ESG criteria, delivering maximum positive impact to all stakeholders.

At its completion, the $7.7 billion Golden City Biorefinery project, designed to produce 180,000 barrels per day of advanced renewable fuels, including Sustainable Aviation Fuel (SAF), Renewable Diesel for Marine and road, and low-cost Green Hydrogen, among other fuels, is slated to be the largest advanced biorefinery in the world with access to over 1,900 global ports. For SGP, the Golden City Biorefinery stands as a beacon for industrial-scale renewable energy infrastructure, promising over 3 million living-wage jobs, the rejuvenation of global agriculture, and the communities it supports.

SGP’s dedicated READY.GROW. The program is a global bioenergy feedstock development system delivering low-carbon-intensity feedstocks with end-to-end traceability, sustainable certification using ISCC, and other best practices. SGP intends to utilize these feedstocks to produce advanced biofuels, Green hydrogen, and products manufactured for the global OEM markets.

“Through the intricate synergy of the Golden City Biorefinery and our Zero Waste Ecosystem, the formal launch of our READY.GROW. Program represents our final, actionable point of implementation: ensuring that the ingredients needed to produce our advanced biofuels and consumer and industrial products are readily available, meet our stringent ESG criteria, and drive impact to the communities in which we operate; we’re not just envisioning a sustainable future – we’re actively constructing it”, expressed Randy Delbert Letang, CEO of SGP BioEnergy. “Each drop of biofuel from the Golden City Biorefinery symbolizes hope, progress, and our unwavering commitment to creating a world where sustainability and equity aren’t options – they are the standard.”, Letang continued.

Dr. Jorge Rivera Staff, Secretary of Energy of the Republic of Panama remarked, “The Golden City Biorefinery and SGP’s READY.GROW. program shows what we can achieve with vision, innovation, and collaboration. Panama has the best conditions to be at the forefront of this transformative journey towards a sustainable future for farmers and the world.”

Echoing these sentiments, Rudy Arredondo, President-CEO-Executive Director of LFRI (Latino Farmers and Ranchers International), stated, “SGP’s READY.GROW. Program is not just another agricultural project; it’s a movement. It lays the foundation for fair, just and equitable agriculture, ensuring a brighter tomorrow for the world.”

In addition to celebrating the historic signing, participants at the Roundtable, a high-level dialogue to drive real-world impact and unite for a greener, sustainable, and equitable future, will delve deep into the nuances of bioenergy, discussing its diverse potentials with the principal theme being Profit, Access & Impact for All – The development of Global Biofuels Ecosystems as a transformative initiative for Peace – The Cornerstone to a Transformational Sovereign Model: Peace, Prosperity, Progress, and Sustainability.