Solena Fuels is a sustainable energy company developing proprietary Integrated Biomass-Gas to Liquid (“IBGTL”) facilities around the world. Our IBGTL facilities will utilize our patented single phase, high temperature gasification technology as the initial processing block that allows us to monetize inexpensive feedstock such as garbage/rubbish, wood waste and agricultural waste. Our IBGTL facility will create high value fuels such as Bio-SPK (Synthetic Paraffinic Kerosene) for jets and Green FT-Diesel for ships and road transportation.
Solena’s sustainable jet and diesel fuels help the aviation, maritime and road transportation industries cost-effectively utilize non-petroleum sourced liquid fuels. Solena is pursuing a build, own and operate business model whereby we will continue to own and operate the IBGTL facilities we develop with our proprietary technology. Solena Fuels is a privately-held company headquartered in Washington DC, USA.
We believe there are three primary reasons why Solena represents a unique alternative fuels company:
- We are focusing on refining high value jet and ultra low sulfur diesel products. Due to their unique properties and high demand, jet and diesel fuels are sold at higher prices than crude oil and other sustainable fuels such as ethanol. Jet crack spreads, the price differential between crude and jet fuel, have increased over 3.8x over the past ten years for several reasons including crude oil supply remapping and increased costs of rare earths used in refining processes. Diesel crack spreads have likewise increased substantially and demand for both jet and diesel is expected to grow faster than that of other petroleum based products such as gasoline. Other alternative fuels are in demand primarily due to legislation and sell at prices well below that of jet and diesel.
- Our solution scales globally. Because of our proprietary gasification solution, we have feedstock flexibility which allows us to utilize any waste biomass including garbage/rubbish, wood waste or agricultural waste interchangeably. This flexibility allows us to work with any given location’s most plentiful resource, whether rubbish in London or wood waste in Stockholm.
- We have history in the industry. While the MSW to biofuels industry has gained significant attention recently, Solena’s CEO first began working in the MSW gasification industry more than 15 years ago and began FT integration work more than seven years ago. Our gasification technology addresses and solves historical issues such as tar reformation and high parasitic loads. Our first meeting with British Airways was in 2008. We believe our proprietary technology, thorough knowledge of the industry and advanced customer pipeline gives us a substantial competitive advantage.
There are two primary reasons why we believe our waste-to-sustainable fuel IBGTL solution is the preferred solution among end users such as airlines and shipping companies:
- Our proprietary technology allows us to use sustainable, inexpensive feedstocks such as garbage/rubbish (MSW). When coupled with the high level of efficiency of our system, this inexpensive feedstock allows us to sell our fuel directly to end users at spot prices with no subsidies. Due to the limitations of their technology, most alternative fuels companies must focus on more expensive, homogenous feedstock such as wood chips, corn and sugarcane. These feedstocks are:
- geographically limited,
- more expensive,
- viewed unfavorably by end users concerned with sustainability/indirect land use issues.
- We utilize an industry accepted technology to upgrade our fuels. Fischer-Tropsch (FT) is a system long utilized in the petroleum industry to convert synthetic gas into jet and diesel fuels. These FT fuels have been certified by ASTM and DEFSTAN for decades and, as such, airlines have a high degree of comfort in utilizing them. Solena’s fuels will require no testing or modifications of current infrastructure or engines. Furthermore, FT technology developed by Velocys (our FT partner/supplier) addresses the historical issues associated with smaller scale FT.