World Energy Invited to Submit Part II Application for $2 Billion DOE Loan

(Boston, Massachusetts) Low-carbon solutions and sustainable aviation fuel (SAF) producer World Energy, LLC announced today that it has been invited by the United States Department of Energy (DOE) to submit the Part II application for an approximately $2 billion loan guarantee through the Title 17 Clean Energy Financing Program.

Photo courtesy of World Energy.

Established in 2005, the DOE’s Title 17 program aims to accelerate the development and deployment of large-scale clean energy projects that significantly reduce greenhouse gas emissions.

If awarded, the loan guarantee will provide essential funding for the construction of World Energy's Houston renewable fuels facility, which will produce sustainable aviation fuel (SAF) and clean hydrogen to decarbonize what World Energy refers to as “the hardest-to-abate sectors,” including aviation and heavy-duty trucking, per a press release from World Energy today.

“As a first mover in the SAF production and decarbonization markets, World Energy is committed to displacing fossil jet fuel with SAF  as quickly and efficiently as possible,” said World Energy Founder and CEO Gene Gebolys. “We applaud the leadership shown by the Biden-Harris administration and the Department of Energy to collaborate with private industry to meet this critical need.”

World Energy was the world’s first producer of sustainable aviation fuel and has been leading the field of renewable fuels for 25 years, according to the company’s website. The company is currently investing $4 billion in scaled manufacturing and new technologies to achieve its goal of supplying 1 billion gallons of SAF annually by 2030.

World Energy has thus far eliminated more than 250,000 metric tonnes of aviation emissions, per the company’s website.

World Energy’s Houston facility will produce more than 250 million gallons of SAF - which delivers a lifecycle greenhouse gas reduction of more than 80% compared to fossil jet fuel - annually, per the press release.

“Across multiple facilities, World Energy plans to produce one billion gallons per year of SAF by 2030, as part of the Biden administration's SAF Grand Challenge, which sets a goal for US producers to supply three billion gallons of SAF per year by 2030,” reads World Energy’s release.

For context, commercial airlines worldwide consumed 60 billion gallons of fuel in 2021, per Statista.

Recently, on November 19, 2023, World Energy provided SAF to fuel the world’s first transatlantic flight using 100% SAF, accomplished by a Gulfstream Aerospace G600 from Savannah, Georgia to Farnborough Airport (IATA: FAB, ICAO: EGLF) in southern England.

In November of 2022, World Energy worked with Etihad Airways to accomplish the world’s first net-zero flight via a Book & Claim system: approximately 26,000 gallons of petroleum-based jet fuel were displaced via the use of net-zero equivalent gallons of World Fuel’s SAF at Los Angeles International Airpot (LAX), according to a press release from World Energy.