EcoTech working with state

Alexis Barker
NLJ News Editor
 
EcoTech Fuels LLC is working with the Wyoming Business Council and Wyoming Energy Authority with the hopes of developing Black Hills Advanced Synfuels LLC in Newcastle. 
As previously reported, EcoTech is a privately owned renewable fuels company that is interested in using woody biomass from the Black Hills and other area forests to create advanced synthetic sustainable aviation fuels and diesel at a location in Weston County. President Linda-Rose Myers said that two locations are being considered for the project, but details on the exact location could not be shared due to negotiations in progress. 
The Newcastle City Council had provided a letter of support to the company in July, citing no risk to the city or state in the venture.
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The financial partner for the project, Piper Sandler’s managing partner George Longo, confirmed that the state does not provide any funds nor does it incur any risk by supporting the proposed project. Piper Sandler Companies is an “investment bank and institutional securities firm, headquartered in Minneapolis,” according to its website.  
The Board of Weston County Commissioners drafted a letter to the Wyoming Energy Authority in July stating it was “encouraged by alternative fuel industries seeking out Northeast Wyoming as a potential venue.” 
“After much discussion, deliberation and intense research, we also encourage your board to do the same concerning any and all potential applicants for the funding that is being sought out (by EcoTech). Our board has several unanswered questions that we hope your board can address,” the letter states. “We will rely on your experience and expertise in fully vetting potential industry inquiries and we look forward to hearing from you.” 
At this point in the process, Myers said, both the Wyoming Business Council and Wyoming Energy Authority have engaged in substantive due diligence regarding the planned project. She noted that the company has provided answers to their questions. 
“The next preliminary step by the state is an Inducement Resolution, which triggers the underwriting and due diligence process,” Myers said in an email. “During the underwriting phase, every aspect of the proposed project will be carefully examined by both Piper Sandler (underwriter for the bond), and a third party designated by the State of Wyoming.” 
She noted that no bond issuance would take place “until and unless this intensive process” results in a green light to proceed with the project. 
In addition to the work with the state, EcoTech has engaged Black & Veatch, a Kansas-based engineering, procurement, consulting and construction company, to perform the development engineering, including all the permitting and detailed engineering design work. Myers noted that Black and Veatch is also engaged as EPC (engineering, procurement and construction) for the project because they are recognized as leaders in the biofuels industry.