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Blue Pony Energy will construct a $1.6 billion facility in Lovington, New Mexico, to convert natural gas into low-carbon synthetic fuels. The project is expected to create 90 direct jobs and generate approximately 221 indirect jobs over the next decade, contributing $4.6 billion to the state’s economy.

The facility's production aligns with New Mexico's goals to reduce climate pollution by 45% by 2030 and achieve net-zero emissions by 2050. The company could receive up to $2 million in state economic development funds.