BATON ROUGE, La., Aug. 23 -- Gov. Bobby Jindal, R-La., issued the following news release:
Today, Governor Bobby Jindal and Cool Planet Energy Systems President and CEO Howard Janzen announced the company will build three bio-refineries in Louisiana with a capital investment of $168 million. The project will consist of modular biomass-to-gasoline refineries in Alexandria, Natchitoches and a site to be determined. Cool Planet will create 72 new direct jobs, averaging $59,600 per-year, plus benefits. Additionally, LED estimates the project will result in 422 new indirect jobs, for a total of 494 new jobs. The company estimates 750 construction jobs will also be created by the project.
Governor Jindal said, "These bio-refineries are great news for Alexandria, Natchitoches and our entire state. For decades, Louisiana's oil and gas leaders have teamed up with our remarkable work force to pave the way in energy production for our nation and the world. Because of our constantly improving business climate, abundance of resources and dedicated workforce, we are now setting the pace for innovative new technologies that harness Louisiana's renewable energy resources and supply advanced fuels to meet our nation's energy demands.
"Through companies like Cool Planet Energy Systems, Louisiana is delivering tomorrow's technology today and providing our workers with even more opportunities. Cool Planet could have invested anywhere in the world, but they chose our state because of our strong business climate, vast oil and gas infrastructure and our world-class energy workforce. Wins like these Cool Planet facilities create great new career opportunities for our people as we work to make Louisiana the best place in the world to live, work and raise a family."
Cool Planet will begin construction in January 2014, with the first site at the Port of Alexandria beginning operations in late 2014. Construction will begin on the second bio-refinery at the Port of Natchitoches by the summer of 2015, with a completion date in the summer of 2016. The third site is scheduled to come online in late 2016 at a Louisiana site to be determined. Cool Planet also will establish a regional office at the Port of Alexandria, where the City of Alexandria plans to make more than $500,000 in infrastructure improvements.
Cool Planet will harvest wood waste and forest byproducts to make gasoline at its initial commercial-scale facilities in Louisiana. Each bio-refinery will be capable of producing 10 million gallons of high-octane, low-vapor pressure gasoline for strategic distribution through existing market channels and for blending at Louisiana refineries. The fuel will be compatible for use in existing vehicles on the road today. The company's business model calls for developing 400 of the micro-refineries across the U.S. in the next decade. Major Cool Planet investors include BP, Google Ventures, Energy Technology Ventures (GE, ConocoPhillips and NRG Energy), North Bridge Venture Partners, Shea Ventures and the Constellation division of Exelon.