Tag: sustainability

HOUSTON and TOKYO, July 21, 2025 (GLOBE NEWSWIRE) -- Par Pacific Holdings, Inc. (including its subsidiaries and affiliates, “Par Pacific”), Mitsubishi Corporation (“Mitsubishi”), and ENEOS Corporation ("ENEOS”) today announced the signing of definitive agreements to establish Hawaii Renewables, LLC (“Hawaii Renewables”), a joint venture to produce renewable fuels at Par Pacific’s refinery in Kapolei Hawaii. Mitsubishi and ENEOS will form Alohi Renewable Energy, LLC, which will acquire a 36.5% equity stake in Hawaii Renewables in exchange for cash consideration of $100 million. Par Pacific will retain the remaining interest and lead the project’s execution and operations through its affiliate, Par Hawaii Refining, LLC. The project’s attractive capital cost, along with its operating and distribution cost advantages, are key differentiators.

According to Towards Automotive consultants, the global electric vehicle tires market is projected to reach approximately USD 59.59 billion by 2034, increasing from USD 24.53 billion in 2024, at a CAGR of 9.45% during the forecast period 2025 to 2034.

High-integrity carbon removal credits will be used to support buyer’s decarbonization and to mitigate corporate travel emissions