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.
Latest News
California Lumber Tax Dropped
California Lumber Tax DroppedA proposed 1% additional sales tax on selected lumber products that was part of Governor Jerry Brown’s attempt to close a state budget gap has been dropped, much to the relief of California LBM dealers. The tax pitted retail lumber sellers...
Sustainable Northwest Wood Debuts Dramatic New ‘Blue Pine’
A new stock of distinctively hued pine has arrived at Sustainable Northwest Wood. The Portland depot for sustainably harvested wood is now stocking Campground Blue Pine, a salvaged wood with a story to tell. Blue pine, sought after by designers for its often dramatic...
Find Us On Social
Newsletter
The monthly Timber Processing Industry Newsletter reaches over 4,000 mill owners and supervisors.
Subscribe/Renew
Timber Processing is delivered 10 times per year to subscribers who represent sawmill ownership, management and supervisory personnel and corporate executives. Subscriptions are FREE to qualified individuals.
Advertise
Complete the online form so we can direct you to the appropriate Sales Representative.