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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E-EUBCE 2020 Available Now
Despite the travel restrictions and the pandemic, the 28th European Biomass Conference and Exhibition continued in a virtual format. Over four days more than 1,550 experts from research, industry and institutions spread across 87 countries, contributed to the success of the first-ever fully virtual biomass conference and exhibition, providing more than 540 presentations and moderating a total of 65 webinar sessions…
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