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Oman-British start-up X2E has announced plans to invest US$1.6bn in biodiesel and sustainable aviation fuel (SAF) projects over the next two years, the company’s founder and CEO told Zawya Projects.

The company’s initial plans involved the cultivation of camelina for use as a feedstock in biofuel production to be used in marine and road transport applications but it also had plans to move into SAF production, X2E’s John Jones was quoted as saying in the 8 February report.

Separate business units would manage feedstock cultivation, recycled water production for irrigation, seed extraction and the refining facilities producing biodiesel and SAF, Jones said.

“We’re looking at an investment of US$1.6bn in the next two years for the entire value chain from agriculture to biodiesel to SAF,” he added.

Production was scheduled to begin in around two-and-a-half years.

X2E also had plans to acquire four biodiesel plants globally – one in the USA, one in Portugal and two in Dubai, Jones added without giving further details.

The total annual capacity of the four plants would be 75,000m³ of B100 (100% biofuel) with the two plants in Dubai accounting for 30,000m³, he said.

Involving a total investment of US$106M, Jones said the projects would include operational extensions to each of the four plants to effectively triple their current total capacity.

The company was also in discussions with landowners in Africa and Malaysia for camelina contract farming, he added.

X2E was founded last year by Jones – an independent British investor in clean energy projects – and Eyhab bin Adnan Al-Hajj, group managing director of Omani oilfield technology company Hema Energy.

Initially focused on the conversion of food waste into biodiesel, X2E also planned to develop a portfolio of environment-friendly projects, including carbon credits and carbon capture and storage, Jones told Zawya Projects in an earlier report last June.

In that report, Zawya Projects wrote that X2E had taken a 60% stake in Omani biodiesel producer Wakud.