Houston-based startup chemical manufacturer Blue Pony Energy said recently it will build a clean fuels manufacturing plant in Lovington in Lea County, N.M. CEO Justin Rencurel told Albuquerque Journal Feb. 9 the company “turns natural gas into cleaner-burning fuels and industrial materials.” Blue Pony will use the Lovington plant in Permian Basin to produce low-carbon versions of products such as diesel, hydrogen, lubricants, coolants and other resources.
Rob Black, secretary of New Mexico’s Department of Economic Development, said the department “highlights New Mexico’s energy goals, oil and gas legacy, scientific research innovations and renewable energy resources as reasons why the state is well-positioned for investment and growth in the industry.”
Rencurel added, “There’s an ecosystem that’s in place in New Mexico that’s very unique and hard to replicate in other parts of the country.” The plant will employ 107 permanent jobs with an economic impact of $4.6 billion in the next decade. The project still faces engineering, design, fundraising and permitting. It’s scheduled for groundbreaking in 2028 and startup in 2031.