Green Fuels Ventures (GFV), a subsidiary of UK biofuel technology developer Green Fuels, has signed a Memorandum of Understanding (MoU) with Panamanian company Telfer Tanks to expand biodiesel production facilities in the Republic of Panama, Bioenergy International wrote.

The project’s aim is to refine biodiesel and advanced biofuels for the energy, marine, aviation and general transportation sectors from a range of sustainably-sourced biogenic feedstocks, according to the 24 January report.

Under the agreement, GFV and Telfer would be forming a joint venture company, Triton Green Fuels, to import a 50,000 litres/day FuelMatic GSX50 biorefinery, from Green Fuels’ engineering works in Berkeley, the UK, the report said.

The joint venture’s initial objective is to establish one or more biodiesel facilities at Telfer’s fuel storage plant and terminal in the Free Trade Zone of the Port of Colón, followed by smaller plants elsewhere in Panama as demand increases.

“Panama’s strategic location means it can serve as a major focal point and hub for the production and distribution of advanced biofuels,” Green Fuels Ventures América Latina CEO Manuel Thompson said.

This joint venture was the first phase for a potential future hydro-treated vegetable oil (HVO) and sustainable aviation fuel (SAF) production facility using Green Fuels’ SABR technology via the established HEFA production pathway, the report said.