SunGas Renewables CEO Robert Rigdon says building a $1.8 billion renewable low-carbon methanol site in Pineville will make a meaningful impact in producing clean energy. Rigdon says after inspecting several sites, this was the best location.
“The old paper mill site offers important infrastructure. And we believe the workforce that will emerge from this community to operate and care for the clean energy facility we’re building here is going to be outstanding.”
The project will produce nearly 400 thousand tons of green methanol every year. Green methanol is a low-carbon fuel that is made from carbon dioxide and wither biomass or renewable electricity. Rigdon says the low-carbon energy solution will help fuel a better world. The green methanol that would allow big container ships to sail on clean energy.
“We are replacing heavy oils that are used in the shipping industry with cleaner forms of energy and methanol is the fuel of choice.”
The state has prepared competitive incentives that includes a $6 million performance-based grant for infrastructure improvements. Rigdon says there are currently in phase two of the project and hope to be in the final phase by the fourth quarter before full construction.
“It’s like building a house on a grand scale. You can’t say you’re a hundred percent sure until you have the architect complete the design and get the loan ready and the construction permits ready. And that’s what we’re going through right now to complete all that process.”
The company expects to make a final investment decision in August 2024.
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