SGP BioEnergy and Latino Farmers and Ranchers International Sign Landmark Agreement to Develop Industrial Hemp for Bioenergy
SGP BioEnergy launches READY.GROW. Feedstock Development Program agreement with Latino Farmers and Ranchers International (LFRI) organization to develop/supply industrial hemp to fuel SGP's Golden City Biorefinery being developed in Panama. (Photo Credit: SGP BioEnergy)
NEW YORK, September 21, 2023 (VSNewsNetwork.com) - In a milestone development, SGP BioEnergy ("SGP") has entered into a partnership with Latino Farmers and Ranchers International (LFRI), signing a definitive agreement to cultivate a minimum of 10 million acres of industrial hemp. The signing was conducted during the 78th session of the United Nations General Assembly. LFRI, an organization with influence over 32 million acres generating more than $21.8 billion in annual sales, will supply industrial hemp to fuel SGP's forthcoming Golden City Biorefinery in Panama and other localized manufacturing operations.
Industrial hemp is carbon-neutral and requires minimal water for cultivation, making it an ideal crop for sustainable bioenergy production. "Through the intricate synergy of the Golden City Biorefinery and our Zero Waste Ecosystem, the formal launch of our READY.GROW. Program represents our actionable point of implementation," said Randy Delbert Letang, CEO of SGP BioEnergy. The program aims to deliver feedstocks that meet stringent environmental, social, and governance (ESG) criteria.
Rudy Arredondo, President-CEO-Executive Director of LFRI, described the READY.GROW. Program as "a movement" that will establish "fair, just, and equitable agriculture."
SGP's Golden City Biorefinery is a $7.7 billion project designed to produce a range of advanced renewable fuels, including Sustainable Aviation Fuel (SAF) and green hydrogen. Once completed, it will be the world's largest advanced biorefinery, creating over 3 million living-wage jobs and revitalizing global agriculture.
For more information about SGP BioEnergy, visit www.SGPBioEnergy.com.
Source: SGP BioEnergy via Newswire
