USA Production Development - CastleRock Biofuels LLC
Production Expansion in the U.S. for Energy Products
Ensyn has established a joint venture With CastleRock Green Energy LLC for the development of production in North America (excluding Canada). The joint venture, operating as CastleRock Biofuels LLC (CBF), is 51% owned by CastleRock Green Energy and 49% by Ensyn. CBF has certain exclusive rights to the RTP technology to develop projects producing energy products in the USA.
The Maine Project
The initial project under development in the USA is the Maine Project, a 20 million gallon/year biocrude production facility being developed in Northern Maine. The site is a former paper mill, now owned by the town of East Millinocket. The site is strategically located in a large wood basket, with rail service to the coast for product delivery. The project site has access to hydro-electric power, helping lower the project’s carbon intensity.
Feedstock for the project is expected to consist of forest residuals from local sources. Biocrude offtake will be directed primarily to local heating clients but the site has easy access to the coast for export purposes.
Discussions are underway with The Finance Authority of Maine (FAME) regarding $80M of tax-exempt debt for the project.