Biofuels Project Sinks
The Red Rock Biofuels project in southern Oregon appears headed for foreclosure according to notices published in the Lake County Examiner newspaper in late December after the company failed to make principal and interest payments on some $300 million in debt. The notice set a February 4 payment deadline with a property auction scheduled for February 9. Originally scheduled for completion in 2017, the plant was going to use biomass from regional forests to produce sustainable aviation fuel (SAF) and was boosted by a $75 million Dept. of Defense grant and fuel commitments from FedEx and Southwest Airlines, plus state and local incentives and infrastructure improvements.
Cost overruns, process re-engineering, COVID-related delays and bankruptcy of a key supplier all affected the project. Construction had begun and there’s lots of equipment and machinery on site. Officials say there have been no public efforts to find a buyer to complete, repurpose or move the refinery.
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Equipment Companies Reveal Latest Developments
This is the second part of three parts in the coverage of the Wood Bioenergy Conference & Expo held March 29-30, 2022 at the Omni Hotel at CNN Center and hosted by Wood Bioenergy magazine. Part one in the June issue focused on the keynote talks from producer and consultant personnel. Part two highlights several presentations delivered by representatives of equipment and technologies companies. Look for…
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