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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Canfor Corp. To Sell Quebec Sawmill For $25 Million
Canfor Corp. says it has an agreement to sell the Daaquam sawmill in Saint-Just-de-Bretenières, Que., in a deal worth $25 million. The deal with Groupe Lebel Inc. and others is expected to close by the end of March, Canfor said in a release on Friday. The Daaquam mill...
Paint Your Wagon And Come Along
Paint Your Wagon And Come AlongArticle by Rich Donnell, Editor-in-Chief, Timber Processing March 2014 Sometimes we use this space simply to pat ourselves on the back for what we put into the current issue of the magazine. This is one of those times. Talk about a mix...
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