Louisiana Green Fuels Fund Updates > JX Nippon Oil & Gas Joins Sumitomo to Invest in LGF

JX Nippon Oil & Gas Joins Sumitomo to Invest in Louisiana Green Fuels Project

When Sumitomo Corporation of Americas ("SCOA") invested in the Louisiana Green Fuels (“LGF”) project in February 2024, the SCOA team also committed to forming a Japanese-based investment consortium to provide the majority of the development capital required for the LGF project.   We are excited to announce that last week JX Nippon Oil & Gas Exploration Corporation (“JX”) joined this consortium through its subsidiary JX Nippon Oil Exploration (U.S.A.) Limited, and has invested in the project alongside SCOA through a newly created entity called Magnolia Sustainable Energy Partners (“M-SEP”).

“JX is excited to join this journey with Strategic Biofuels and Sumitomo Corporation, who possess remarkable technical, project management, business, and financing expertise and leadership, to jointly lead this Project to success leveraging on our expertise in CCS built at Petra Nova CCUS project and other projects.
”
— Toshiya Nakahara, President & CEO of JX

M-SEP has entered into a Joint Development Agreement with Strategic Biofuels (“SBf”) and purchase LGF KISS#4 convertible notes to continue advancing the project through the last stage of predevelopment (FEL-3 or FEED) and move the project closer to its Q1 2025 target for Final Investment Decision (i.e., project equity investment).

You can read more about M-SEP in the JX press release and the SBf press release.

We have a window to allow individual investors the last opportunity to participate in the LGF project alongside JX and SCOA through the Ballast Rock Ventures LGF KISS#4 QP Fund*, purchasing the same KISS#4 notes as M-SEP.

Please reach out to us promptly to learn more as we expect to close this limited KISS#4 fund soon.

*Any investment in the Ballast Rock Ventures LGF KISS#4 QP Fund carries a high degree of risk. A more comprehensive discussion of the risks of investing in the fund can be found in the fund prospectus. An investment in the fund may put your capital at risk.
* No responsibility is accepted by JX Nippon Oil & Gas Exploration Corporation, Sumitomo Corporation of Americas, or either of their affiliates or any of their directors, representatives, officers, employees, counsel, agents, advisors, associates nor any other person, for any of the information or for any action taken by you on the basis of the information or opinions expressed in this email or any of their actions or investments. No representation or warranty, express or implied, is made in this email in relation to the accuracy or completeness of the information and opinions expressed in this email and, to the maximum extent permitted by law, any and all liability in respect of such information and opinions is hereby expressly excluded, including, without limitation, any liability arising from fault or negligence, for any loss arising from the use of this information or otherwise arising in connection with it.

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