#HOBO DEFINITION FULL#

The resulting product meets and, in many ways, surpasses current Ultra Low Sulfur Diesel (ASTM D-975) specifications. HOBO Renewable Diesel produces its fuel by employing a licensed propriety process which utilizes a combination of heat, hydrogen and catalyst to convert the chemical composition of its feedstocks into renewable diesel for use in the transportation industry. HOBO Renewable Diesel converts largely unusable waste streams as a feedstock and turns them into valuable fuel to power the American economy.

It can be mixed with petroleum diesel in a pipeline or storage tank significantly lessening the logistical cost of handling and dispensing. HOBO Renewable Diesel is a 100% drop in replacement fuel requiring no modifications to the existing fuel distribution infrastructure or a vehicle’s fuel system. HOBO Renewable Diesel has up to 85% less sulfur than conventional diesel while retaining all the performance, stability, and cold flow advantages of traditional petroleum-based fuels with none of the negative environmental disadvantages. HOBO Renewable Diesel is an environmentally friendly fuel made from 100% renewable resources (animal fats and vegetable oils) that has lower emissions and is cleaner burning. Project #2 is projected to be operating by Q2 of 2024. It also leverages the production enhancements made in the design of Project #1 to lower the Carbon Intensity of the finished product. HOBO Project #2 continues the location advantaged themes of Project #1 as well as the scale efficiencies.

#HOBO DEFINITION FULL#

Project #1 expects to be in full production by Q4 2023. The location makes proximity to feedstock supply (and associated transportation costs) a strategic and economic advantage when compared to most of their competitors and results in a more valuable end use product. HOBO Project #1 is a 9,300 Barrel a day (120 million gallons annually) production facility located in the heart of the agricultural center of the country.

In this case, HOBO refers to the Heating Oil to Bean Oil spread which in part reflects the margin for converting waste feedstocks into renew able diesel for renewable fuel producers. Perhaps an explanation as to where the HOBO Renewable Diesel name came from would be helpful, as it has nothing to do with the dictionary definition of hobo. HOBO is led by energy professionals who have demonstrated expertise across project development, engineering, operations, and financing, and the organization has partnered with a team of technology and engineering/construction companies as well as other advisors. They own natural gas gathering systems, pipelines, and processing facilities in South Texas and continue to pursue energy transition infrastructure opportunities.Īnd who is HOBO Renewable Diesel, LLC? They are a developer of renewable fuels projects that convert agriculture feedstocks into renewable fuels such as renewable diesel and sustainable aviation fuel. So who is Evolve Transition Infrastructure LP exactly? They are a publicly-traded limited partnership formed in 2005 focused on the acquisition, development and ownership of infrastructure critical to the transition of energy supply to lower carbon sources. HOBO and Evolve are also considering incorporation of additional carbon reduction opportunities into the Fuels Project and future projects which the management teams believe could result in the production of some of the lowest carbon intensity fuels in the US.

Subject to the satisfaction of certain conditions, including HOBO securing a long-term strategic offtake agreement for the Fuels Project, Evolve will exclusively fund the development and construction of the Fuels Project and future renewable fuels projects that can produce renewable diesel and sustainable aviation fuel and contribute to the advancement of the transition to a low-carbon world. Houston, Texas-based Evolve Transition Infrastructure LP, a publicly traded limited partnership focused on the acquisition, development and ownership of infrastructure critical to the transition of energy supply to lower carbon sources, and HOBO Renewable Diesel, LLC, a renewable fuel project developer, announced an agreement for Evolve to fund the construction of HOBO’s initial project that is expected to produce more than 120 million gallons of renewable fuels annually. In today’s Digest, all the answers on deal details, the project, construction, HOBO’s renewable diesel and sustainable aviation fuel, and more. That alone is enough to catch some attention, but who exactly is Evolve and how is HOBO Renewable Diesel getting in with them for this project? Who will be doing what? A project that is expected to produce more than 120 million gallons of renewable fuels annually. A $600 million investment in construction of a renewable fuels facility.

Hobo definition