SunGas Renewables has halted development of its Beaver Lake Biofuels project in Pineville, Louisiana. The company cited slower than expected market uptake of low-carbon methanol, unresolved questions around the carbon capture and storage pathway, and a lack of clear regulatory support and financing. The facility was designed to produce low-carbon methanol for maritime, aviation, and chemical industries. The project had recently gone through a public comment period with the Louisiana Department of Environmental Quality. The proposed facility would have emitted over 120,000 tons of CO2 equivalent per year along with other pollutants. SunGas CEO Robert Rigdon said the company still believes in the technology but does not see the current conditions as viable for moving forward. The decision highlights the real world execution risk facing advanced biofuel and carbon capture projects in the current policy environment.
