The Albany Gazette - Louisiana Supports LOI Between Hapag-Lloyd AG and Southern Energy Renewables Inc. for Green Methanol Offtake

The LOI establishes a framework for project development and the long-term offtake of green methanol, subject to the achievement of key milestones associated with Southern Energy's proposed $1.4 billion flagship project. The agreement also contemplates potential co-investment in future production facilities. Advancement of these milestones is expected to inform the State of Louisiana's evaluation of a proposed $400 million bond allocation.

Leadership Commentary

Jay Patel, Chief Executive Officer of Southern Energy Renewables, commented:

"This agreement represents an important step forward in our mission to deliver scalable, low-carbon fuel solutions while generating meaningful economic impact. Our collaboration with Hapag-Lloyd and the State of Louisiana reflects a shared commitment to strengthening domestic energy production, enhancing supply chain resilience, and revitalizing key industrial sectors. We are proud to support job creation, advance the biomass ecosystem, and reinvigorate critical infrastructure such as sawmills while delivering long-term value to local communities and contributing to the broader energy transition."

St. Charles Parish President Matthew Jewell commented:

"We welcome the continued progress of Southern Energy Renewables' project in St. Charles Parish and the announcement of this new agreement," said Parish President Matthew Jewell. "St. Charles Parish has long been a leader in energy and manufacturing, and we are well positioned to support projects that strengthen our economy, build on our industrial base, and advance alternative energy development."

Nevin Smalls, Chief Strategy Officer of Southern Energy Renewables, commented:

"This initiative is about more than job creation in Louisiana and across the United States, it's about strengthening energy independence and global competitiveness. As the U.S. continues to lead in innovation across emerging industries, we aim to bring that same level of ambition and technological advancement to the energy sector. By collaborating across industries, we are positioning ourselves to help establish the United States as a global leader in fuels and energy diversification. Achieving fossil parity is essential-solutions must be economically viable to succeed at scale in the global marketplace without relying on subsides long term."

Chris Cooper, Chief Executive Officer, XCF Global, commented:

"We look forward to supporting the combined entity as this project moves through development, and we are pleased to see the meaningful progress already underway. This is the kind of innovation and industrial-scale collaboration Louisiana needs to strengthen competitiveness, create durable jobs, and lead in the next generation of liquid fuels."

Sunny Trinh, Chief Executive Officer of DevvStream, commented: "We are pleased to expand our relationship with Southern Energy Renewables through a new memorandum of understanding under which DevvStream would serve as environmental attribute advisor for Southern's green methanol platform"

Hapag-Lloyd commented:

Jan Christensen, Senior Director - Global Fuel Purchasing, commented:

"Green methanol represents a key pathway within Hapag-Lloyd's multi-fuel strategy, underscoring our commitment to advancing more sustainable shipping solutions. This initiative with Southern Energy Renewables Inc. is seen as a valued step towards achieving net-zero fleet operations at Hapag-Lloyd AG by 2045".

Ilyas Muhammad, Head of Green Fuels - Global Fuel Purchasing commented:

"Southern Energy's green methanol project is strategically important to Hapag-Lloyd's green fuels offtake ambitions, offering a long-term, cost-competitive pathway to replacing fossil fuels with green alternatives. We look forward to continuing our discussions and finalizing a binding offtake agreement in the coming months".

About Southern Energy Renewables

Southern Energy Renewables Inc. is a U.S.-based developer of clean fuels, chemicals, and sustainable products, focused on advancing large-scale biomass-to-fuels projects. These initiatives are designed to produce synthetic jet fuel and green methanol, supported by integrated carbon capture and sequestration technologies.

About Hapag-Lloyd AG

With a fleet of 301 modern container ships and a total transport capacity of 2.5 million TEU, Hapag-Lloyd is one of the world's leading liner shipping companies. In the Liner Shipping segment, the Company has around 15,000 employees and 400 offices in 140 countries. Hapag-Lloyd has a container capacity of 3.7 million TEU - including one of the largest and most modern fleets of reefer containers. A total of 133 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. In the Terminal & Infrastructure segment, Hapag-Lloyd has equity stakes in 21 container terminals in Europe, Latin America, the United States, India and North Africa. Around 3,000 employees are assigned to the Terminal & Infrastructure segment and provide complementary logistics services at selected locations in addition to the terminal activities.

Disclaimers

No Offer or Solicitation

This press release is for informational purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy any securities, or a solicitation of any vote or approval, nor shall there be any offer, solicitation or sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties, including statements regarding Southern Energy Renewables' development of its methanol production project, its ability to obtain bond financing, its ability to obtain offtake partners for its products, and its ability to develop future facilities. All statements, other than statements of historical facts, are forward-looking statements, including: statements regarding the expected timing of the development of Southern Energy Renewables' methanol production facility, the development of future facilities, the timing and amount of bond financing, and Southern Energy Renewables' ability to find an offtake partner for its products. Forward-looking statements concern future circumstances and results and other statements that are not historical facts and are sometimes identified by the words "aim," "may," "will," "should," "potential," "intend," "expect," "endeavor," "seek," "anticipate," "estimate," "overestimate," "underestimate," "believe," "plan," "could," "would," "project," "predict," "continue," "target," "objective," "goal," "designed," or the negatives of these words or other similar terms or expressions that concern Southern Energy Renewables' expectations, strategy, priorities, plans, or intentions. Forward-looking statements are based upon current plans, estimates, expectations, and assumptions that are subject to risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those expressed or implied by such forward-looking statements.

We can give no assurance that such plans, estimates, or expectations will be achieved, and therefore, actual results may differ materially from any plans, estimates, or expectations in such forward-looking statements.

Forward-looking statements are based on current expectations, estimates, assumptions and projections and involve known and unknown risks and uncertainties that may cause actual results, developments or outcomes to differ materially from those expressed or implied by such statements. Important factors that could cause actual results, developments or outcomes to differ materially include, among others: (1) changes in domestic and foreign business, market, financial, political, regulatory and legal conditions; (2) the risk that Southern Energy Renewables does not obtain bond financing at acceptable terms or at all; (3) the risk that Southern Energy Renewables is unable to develop its planned methanol production facility or future facilities on time, on budget, or at all; (4) the risk that Southern Energy Renewables may not find an acceptable offtake partner for its products; (5) the outcome of any legal proceedings that may be instituted against Southern Energy Renewables or its affiliates, which could be costly, time-consuming, divert management attention and adversely affect liquidity or financial condition; (6) changes in applicable laws, regulations or enforcement priorities, including extensive regulation and compliance obligations applicable to the parties' businesses; and (7) other economic, business, competitive, operational or financial factors beyond management's control.

Any forward-looking statements speak only as of the date of this press release. Southern Energy Renewables does not undertake any obligation to update any forward-looking statements, whether as a result of new information or developments, future events, or otherwise, except as required by law. Neither future distribution of this press release nor the continued availability of this press release in archive form on Southern Energy Renewables' website at www.southernenergyrenew.com should be deemed to constitute an update or re-affirmation of these statements as of any future date.

Contact information:

[email protected]
520-490-7221

SOURCE: Southern Energy Renewables Inc.

View the original press release on ACCESS Newswire

(O.Garcia--TAG)