Nacero To Build A Natural Gas - Renewable Natural Gas To Gasoline Production Plant in Luzerne County
On October 29, Nacero Inc. announced plans to build a $6 billion manufacturing facility on the site of a former coal mine in Newport Township and Nanticoke, Luzerne County that will bring thousands of jobs and produce tens of thousands of barrels per day of low and zero lifecycle carbon footprint gasoline made from natural gas and renewable natural gas.
The facility’s competitively priced, zero sulfur gasoline will be useable in today’s cars and trucks without modification.
“We will give everyday drivers zero sulfur, 100 percent domestic, low- and net zero carbon gasoline for use in their existing vehicles without modification. Our affordable and accessible products will clear the air and reduce global warming,” said Jay McKenna, Nacero’s CEO.
“I welcome Nacero to Pennsylvania,” said Department of Community and Economic Development Secretary Dennis Davin. “The company’s commitment to locate their newest, innovative multi-billion-dollar plant in the Commonwealth will bring thousands of new jobs to Luzerne County. Nacero could have located anywhere, but chose Pennsylvania as a result of its ingenuity, talented workforce and strong economy.”
“The men and women of the NEPA Building & Construction Trades are ready, willing, and eager to deploy our skilled trade workers to build the Nacero Luzerne County plant that will produce good-paying jobs and change the game on natural gas projects in Pennsylvania,” said Warren Faust, President NEPA Building & Construction Trades Council.
In April, Nacero, Inc. announced plans to construct a similar plant in Pennwell, Texas. Read more here.
According to Nacero, Nacero Blue Gasoline™ is made from natural gas using renewable power and carbon capture. Nacero Green Gasoline™ is made from renewable natural gas and captured flare gas.
Nacero’s state-of-the-art facilities integrate carbon capture, produce hydrogen production and make 80 percent of their own process water.
Click Here for a comparison of the Nacero process and traditional crude oil refining.
For more information, visit the Nacero website.
State Tax Credit Subsidy
The state Local Resource Manufacturing Tax Credit adopted in 2020 is credited with helping to bring the $6 billion Nacero gasoline plant to Luzerne County, according to Sen. Jake Corman (R-Centre). Read more here.
“For many years, Pennsylvania suffered from bad policy decisions that chased away new jobs and investments and hurt small communities throughout the state,” Sen. Corman said. “Today’s announcement shows how we can bring these jobs back and breathe new life into our communities with responsible policies targeted toward creating family-sustaining jobs in Pennsylvania.”
The program provides up to $6.7 million in tax credits a year for qualifying projects [Read more here] up to $26.6 million a year for the entire tax credit program which will be available from January 1, 2024 to December 31, 2049-- over $670 million. Read more here.
The tax credit pays qualified companies a tax credit equal to $0.47 per unit of dry natural gas that is purchased and used by a qualified taxpayer in the manufacturing of petrochemicals or fertilizers. Read more here.
-- Sen. Corman: PA Manufacturing Tax Credit Leads To $6 Billion Investment In PA
[Posted: October 29, 2021]
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