Flint Hills Resources and Encina Announce Term Sheet to Develop a Facility to Produce Renewable Chemicals and Renewable Fuels from Waste Plastic

THE WOODLANDS, Texas – Encina Development Group (“Encina”) is pleased to announce the signing of a non-binding term sheet with Flint Hills Resources to produce renewable chemicals and renewable fuels from waste plastic.

The term sheet contemplates that the parties may enter into a definitive agreement that includes building a waste plastic to renewable chemicals and renewable fuels plant in Corpus Christi, TX.

Flint Hills Resources will market the renewable aromatic products produced at the Encina Corpus Christi facility as well as work with its affiliates to market renewable aromatic products from other Encina U.S.-based plants.

The Corpus Christi refineries are owned and operated by Flint Hills Resources, a Koch Industries company, and are major suppliers of fuels for the Texas market including the San Antonio, Austin, and Dallas-Ft. Worth areas. In addition, the refineries produce various commodity chemicals that are important building blocks for a variety of products used in daily life.

“Our work with Encina is an exciting addition to our growing portfolio of renewable product and technology investments,” said Francis Murphy, Flint Hills Resources’ Senior Vice President, Chemicals. “Renewable aromatics and bioplastics are playing an increasingly import role in the product value chain and reducing environmental impacts while still delivering on all the various products that make modern life possible.”

“Flint Hills Resources is an excellent partner for Encina,” stated David Schwedel, Executive Director, Encina. “They have deep domain industry expertise, and an aligned focus on delivering highly-valued and sustainable products to the marketplace.”

About Encina Development Group

Encina Development Group implements solutions to produce renewable chemicals and renewable fuels from waste plastics in the circular economy. Our basic chemical products provide the foundation that helps our customers meet their renewable goals and create products across a broad spectrum of goods, from consumer products and packaging to pharmaceuticals, construction, and much more. For more information, please visit: www.encina.com.

About Flint Hills Resources
Flint Hills Resources, LLC, through its subsidiaries, is an industry leader in refining, chemicals, and grain processing, with operations primarily in the Midwest and Texas. Its manufacturing capability is built upon six decades of refining experience, and the company has expanded its operations through capital projects and acquisitions worth more than $15 billion since 2002. Flint Hills Resources’ subsidiaries produce and market gasoline, diesel, jet fuel, asphalt, ethanol, olefins, polymers and base oils. They also produce distillers corn oil, distillers grains, protein and fertilizers. Based in Wichita, Kansas, the company has more than 3,500 employees and is a wholly owned subsidiary of Koch Industries, Inc. More information at www.fhr.com.