Imperial County, California – June 15, 2016 - California Ethanol & Power, LLC (CE&P) announced the award of their engineering services agreement (ESA) to Technip, a world leader in project management, engineering and construction, for their proposed sugarcane to ethanol plant project in Imperial Valley, California.
As part of the ESA, Technip will provide engineering and estimating services in support of CE&P’s economic model for the project. In addition, CE&P has selected Technip as its contractor and the parties intend to finalize negotiations on the Engineering Procurement and Construction (EPC) contract during the second half of 2016. Achieving this timeline is a significant factor contributing to CE&P’s planned financial closing in late 2016 with a ground-breaking following shortly thereafter.
“We look forward to providing CE&P with immediate local support for this project. Our technical team is backed by Technip’s global experience in ethanol technologies and plant construction which is a perfect match for this project,” said Jeroen Snijder, General Manager and VP of Technip Stone & Webster Process Technology’s center in Claremont.
“Technip has decades of experience working in renewable energy, alcohol and water treatment. We look forward to having a worldwide long-term partner who will bring valuable expertise and efficiencies to our project,” said David R. Rubenstein, President & CEO of CE&P.
“Together with Technip, we will collectively work toward our goal of building a facility that produces extremely low carbon ethanol, base-load renewable electricity, and pipeline quality biogas. The project will spur local economic and agricultural development in the form of sustainable crops and the resulting jobs generated from building a renewable energy facility,” said Rubenstein.
Technip is a world leader in project management, engineering and construction for the energy industry. From the deepest Subsea oil & gas developments to the largest and most complex Offshore and Onshore infrastructures, our close to 32,500 people are constantly offering the best solutions and most innovative technologies to meet the world’s energy challenges. Present in 45 countries, Technip has state-of-the-art industrial assets on all continents and operates a fleet of specialized vessels for pipeline installation and subsea construction. For more information, visit http://www.technip.com
California Ethanol & Power, LLC (www.CaliforniaEthanolPower.com) intends to produce sustainable low-carbon energy in California for use in California from sugarcane and sweet sorghum. CE+P intends to develop, finance, install, own and operate a series of Projects in the Imperial Valley that grow sugarcane and sweet sorghum, extract and ferment the juice into fuel-grade ethanol, convert the remaining biomass into electricity, produce biomethane and fertilizer feedstock from the fermentation process residue, and sell the field residue for forage or electricity generation. For more information, contact VP Marketing and Public/Investor Relations Camille Soriano at CSoriano@CaliforniaEthanolPower.com or 760/344-1004.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are identified by the use of forward-looking terminology such as may, will, could, should, expect, anticipate, intend, plan, estimate, or continue or the negative thereof, or other variations thereof. Each forward-looking statement, including, without limitation, any financial projections, speaks only as of the date on which it is made, and CE&P does not undertake an obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made, or to reflect the occurrence of anticipated or unanticipated events or circumstances. The forward-looking statements are necessarily based on assumptions and estimates and are inherently subject to various risks and uncertainties. Actual results may vary materially as a result of changes or developments in social, economic, business, market, legal and regulatory circumstances or conditions, both domestically and globally, as well as due to actions by customers, clients, suppliers, business partners, or government bodies. Performance is subject to numerous factors, including demand for renewable fuels and the availability of, private and public sector funding. Results may also vary as a result of difficulties or delays experienced in the execution of contracts or implementation of strategic initiatives.
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