World Energy announced it has been invited by the US Department of Energy (DOE) to submit the Part II Application for an approximately $2bn loan guarantee through the Title 17 Clean Energy Financing Program.

Established in 2005, the Title 17 program aims to accelerate the development and deployment of large-scale clean energy projects that significantly reduce greenhouse gas emissions.

If awarded, the loan guarantee would provide critical funding for World Energy’s Houston facility.

This facility would focus on producing both SAF and clean hydrogen, targeting two of the most challenging sectors to decarbonise: aviation and heavy-duty trucking.