ReGen III Corp. V.GIII

ReGen making great progress

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Last year,

ReGen III engaged Koch Project Solutions LLC (KPS) to provide project execution management services leading up to the turnkey delivery of its new facility in Texas whereby KPS will lead ReGen III's world-class engineering, construction and licensed vendor teams: PCL Industrial Management Ltd., Studi Tecnologie Progetti SpA (STP), Koch Modular Process Systems (KMPS), Duke Technologies and Sacre-Davey Engineering Inc. through the completion of detailed design, construction, commissioning and start-up.

ReGen III is currently deploying $7.4-million (U.S.) to complete the project's front-end engineering and design (FEED) under the guidance of KPS. Since its update on Sept. 29, 2021, the Texas project has advanced considerably, and there is now an estimated 100-plus engineering personnel working on the FEED study and project deliverables. In brief:

• KPS executed contracts and initiated work with the final process design packagers: STP for its Stage 1 contamination separation unit and Duke for its Stage 3 molecular treatment unit.
• Preliminary data were received from the process design packagers, with process design integration being performed by the company's consulting engineer, Sacre-Davey Engineering Inc.
• The permitting application preparation process was initiated, and the air permit is currently under development. Hazard and operability (HAZOP) reviews are under way.
• Specification of equipment for eventual purchase is progressing.
• The site survey is complete, and the plant layout has progressed significantly with the receipt of engineering data from its process package providers.
• The engineering contractors have developed the basis and assumptions for preparation of an updated project cost estimate.
• ReGen III reviewed the FEL-2 package received from Oiltanking for the Texas site.
• The Texas site lease and terminal service discussions are continuing.
• KPS continues to develop an engineering, procurement and construction lump sum turnkey (EPC LSTK) wrap. Fully wrapped EPC LSTK contracts include cost, schedule and performance guarantees that will provide ReGen III with a single point of responsibility for engineering, construction, commissioning and start-up.
• KPS introduced ReGen III to New Energy Risk (NER), a subsidiary of the AXA Group. NER is working in parallel with KPS and its EPC LSTK wrap to develop a complementary gap insurance policy that will provide further financial protections for ReGen III and its lenders.