Eni Sustainable Mobility and PBF Energy Inc. have agreed to partner in a 50-50 joint venture — dubbed St. Bernard Renewables (SBR) — for the under-construction biorefinery colocated with PBF's Chalmette Refinery in Louisiana.
SBR will operate as an independent entity with feed procurement and product distribution managed by a team working on behalf of the St. Bernard Renewables joint venture.
Eni Sustainable Mobility will contribute $835 million of capital to the joint venture, in addition to $50 million that is subject to the achievement of eventual project milestones, and will provide expertise in biorefining operations, supply and marketing. PBF, as the contributor of the biorefinery, will continue to manage project execution and serve as the operator once construction is complete.
The St. Bernard Renewables biorefinery is scheduled to begin operations in the first half of 2023. The facility is currently aiming to have a processing capacity of about 1.1 m