Global Emerging Markets (GEM), a European private alternative investment group, has committed $250 million in equity to support the development of the Golden City Biorefinery in Colon, Panama by SGP BioEnergy.
The facility is under construction and on schedule, with Phase 1 production to initiate in early 2027.
Once operational, the biorefinery will not only produce up to 180,000 barrels per day (2.6 billion gallons per year) of advanced biofuel, mostly Sustainable Aviation Fuel (SAF), but also generate up to 405,000 metric tons of green hydrogen annually with access to more than 1,900 international ports.
The project, expected to create over 3 million jobs, aims to achieve all 17 United Nations Sustainable Development Goals as part of SGP’s Zero-Waste Ecosystem platform.
The project backs economic impact with industrial growth, promotes environmental sustainability, and supports coexistence with nature and nations.
During the 78th session of the United Nations General Assembly, SGP and the Latino Farmers and Ranchers International organization (LFRI) signed a definitive agreement to develop a minimum of 10 million acres of industrial hemp for SGP’s biorefinery and biomanufacturing efforts.