July 25, 2023 – DG Fuels, LLC (“DGF”), an emerging leader in developing sustainable aviation fuel (“SAF”) facilities to decarbonize the aviation industry, announced today the successful closing of investment transactions with two important Japanese companies. With the investments in DGF made by aviner & co., inc. (“aviner”), Chishima Real Estate Co., Ltd. (“Chishima”) and an undisclosed investor, DGF has now exceeded its minimum investment target as part of its final round of parent level development capital needed to fund the remaining expected expenses required to reach FID, including the ongoing FEL 3 and related expenses. The relatively modest balance of the maximum $30 million capital raise is expected to fund in the next few months. DGF currently expects that FID on its proposed US$4.2 billion, 180 million gallon per year SAF facility in Louisiana to occur in early 2024.

The Louisiana SAF facility will be the template for multiple other such facilities to be built across North America, Europe and Asia.

Yoshiyuki Shibakawa, Representative Director of Chishima said, “We believe the SAF to be produced by DG Fuels makes a significant contribution to reducing CO2 emissions in the aviation industry. Through its partnership with DG Fuels, we will contribute to the decarbonization of the aviation industry.”

Aviner, which is active in aircraft management and renewables, has worked closely with DGF as its strategic partner and representative in Japan and broader Asia to market DGF’s SAF product to off-takers in the Asia Pacific region as well as jointly studying potential production of SAF by DGF in the region.

“SAF sits right in between aviation and energy which are the prime focus of ours. We have strong belief in the DGF team and are excited to be part of this project. SAF produced by DGF’s high carbon conversion efficiency technology uses woody biomass feedstock which will not face limitation in feedstock supply and we expect DGF’s technology and know-how can be replicated in various locations around the world.” said Hideyuki Yamanaka, CEO of aviner.

“The DG Fuels facility will produce 180 million gallons of zero carbon emissions SAF,” said Michael C. Darcy, CEO of DG Fuels, The facility itself has a very minor atmospheric emissions and zero water discharge to the local environment and will bring 600 new permanent operating jobs and up to 2,100 construction jobs over three years to the local community.”

“We have worked diligently with our investors in implementing this long-term relationship to mutually focus on decarbonizing the aviation sector in a responsible manner,” said Christopher J. Chaput, President and CFO of DG Fuels. The DG Fuels SAF product relies on no feedstock that would negatively impact the food supply and our highly efficient production process allows us to profitably sell SAF to airlines at attractive prices.”

About DG Fuels

DG Fuels is building a low-CO2 life cycle emissions synthetic fuel system based on high carbon conversion technology that is targeting a 97% efficiency. The DG Fuels’ technology does not require the development of new engines or types of distribution infrastructure. DG Fuels’ innovative technology produces hydrogen via water electrolysis and biomass derived carbon replacement fuel for aircraft, and potentially for locomotives, vessels and trucks as well. DG Fuels delivers a significant value proposition to end-customers, including meaningful environmental benefits and the ability to materially address sustainability goals.  DG Fuel’s carbon efficient solution will tie together all critical elements to power, fuel, and provide SAF to its customers.

About Chishima Real Estate Co., Ltd.

Chishima was established in 1912, as a company to manage properties owned by the Shibakawa family, a family that can be tracked back to the 1700s and has been involved in the development of Osaka bay area.

Chishima and its associated companies own buildings and land mainly located in urban area of Tokyo, Osaka, London, California and Texas and have been involved in leasing commercial jet aircraft and engines to airlines around the world for the past 38 years. In addition to these investment, Chishima Real Estate is now active on investment in startup companies in/out of Japan.

For more information, please visit /www.chishimatochi.com/en

About aviner & co., inc.
aviner & co., inc is a Japanese company focusing on investment in the aviation and energy sector. The company is led by a team of industry veterans with experience in aircraft leasing, venture capital investment and renewable energy. Current investment portfolio includes majority ownership of SGI Aviation Services B.V., an Amsterdam based aviation technical consultancy company as well as investments into hydro-power projects, a power supply company in Japan and oil & gas fields in Texas. Headquartered in Tokyo, aviner is owned by Fintech Global Inc., a Japanese boutique investment bank listed in the Tokyo Stock Exchange (8789.T).

For more information, please visit www.aviner.jp.


DG Fuels Media Contact Information: Dan Brown – +1 202 649-0145 – dbrown@dgfuels.com