HOUSTON (2 March 2023) – As part of its strategy to accelerate the energy transition, Gunvor USA LLC (Gunvor), part of the Gunvor Group, has entered into a green hydrogen Letter of Intent with Fresno, California-based Yosemite Clean Energy LLC (Yosemite), a leader in the development of biomass to green hydrogen in the state of California.
The Letter of Intent covers the purchase and marketing of all production of green hydrogen from Yosemite’s first three facilities located in Oroville, Tuolumne and Visalia, California. Each facility is projected to produce 7 million kilograms per year of negative carbon intensity green hydrogen from 90,000 bone dry tons of biomass that are sustainably sourced from forest fuel hazard reduction projects, which reduce the threat of catastrophic wildfires in California. Yosemite will also use biomass generated post-wildfires as part of current salvage and restoration operations. Yosemite biofuels plants will help farmers by using end-of-life orchard biomass to eliminate open burning and the associated CO2 and air quality impacts within the Sacramento and San Joaquin Valleys. The first facility, located in Oroville, is expected to begin operations in the second half of 2025, while the remaining two facilities are projected to start over the two following years.
“Green hydrogen is a clear area of opportunity to be explored for its role in the new energy landscape, and as a global commodities trader, Gunvor is pleased to support an innovative business such as Yosemite Clean Energy. Gunvor aims to be a long-term player in the maturation of global hydrogen markets, driven by expansion in transportation, aviation and industrial markets. Yosemite will be a key part of that growth,” said Fredrik Törnqivst, Gunvor’s Energy Transition Director and Managing Director for Nyera, an investment vehicle dedicated to identifying sustainable commodities trading and business opportunities.
Yosemite Clean Energy’s CEO Tom Hobby said: “For decades, the convergence of technologies, biomass producers, and end uses for biomass have been lacking, causing millions of tons of waste biomass to be underutilized across North America. Today we have the biomass conversion technologies, and in our case the downstream syngas processing, by which to economically create carbon negative H2 and advanced biofuels. Yosemite Clean is championing the best practices of sustainable management on our forest and farms. We are using biomass that has been burning, dying, and rotting, to produce zero-emission, carbon-negative green biofuels. We are very pleased to have Gunvor as our marketing and off-take partner for hydrogen fuels and the development of our ‘stump-to-pump’ marketing plan.”
Yosemite is a bioenergy development company that specializes in transforming farm and forest wood waste into carbon-negative biofuels, including green hydrogen and renewable natural gas. Yosemite provides renewable solutions to California’s transportation and broader energy sectors while reducing risk of wildfires, raising air quality, and creating jobs and economic stimulus in underserved rural communities. Over the last decade, these areas have experienced a significant rise in catastrophic wildfire due to mismanagement of the forests, causing billions of dollars of property and environmental damage.
Yosemite is developing a network of biofuels plants that are partially owned by the forest and agricultural communities they serve. The company is at various stages of development planning on biofuels plants across the state of California.
For further information, visit yosemiteclean.com