TDWP Announces Deal with Summit Next Gen and Provides a Strategic Update
USD PARTNERS LP (USDP)
US:NYSE Investor Relations:
investor.usdpartners.com
Company Research
Source: Business Wire
HOUSTON--(BUSINESS WIRE)--On September 13, 2024, Texas Deepwater Partners LLC (“TDWP”) closed the sale of 60 acres on the Houston Ship Channel to Summit Next Gen LLC (“Summit Next Gen”). Summit Next Gen acquired the property from TDWP to construct the first at-scale ethanol-to-jet fuel (ETJ) facility that will produce sustainable aviation fuel (SAF). Summit has also purchased an exclusive option on an incremental 40 acres to support plant expansion for future SAF demand growth.In collaboration with Summit Next Gen, TDWP will build, own, and operate a dock capable of handling deepwater vessels and barges. The dock, and associated infrastructure will support Summit’s plant by unloading waterborne feedstock and loading finished products for transportation to end markets. Summit Next Gen will underpin the dock development with a long-term terminal services agreement with TDWP. In addition, both companies are jointly discussing the inclusion of additional transportation methods that co
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