USA Production Development - Castlerock Biofuels LLC
Production Expansion in the U.S. for Energy Products
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Ensyn has established a joint venture With Castlerock Green Energy LLC and Khasma Capital LLC (formerly Nexus Development Capital LLC) for the development of production in North America (excluding Canada). 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 Millinocket, Maine. The plant is to be built on a greenfield site within One North, the former Great Northern paper mill location. 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. in July 2024 Castlerock Biofuels signed a $9 million financing agreement with Nexus Development Capital. This funding will be used primarily for early engineering and site work for the Maine project. Discussions are underway with The Finance Authority of Maine (FAME) regarding $80M of tax-exempt debt for the project. All necessary project permits are in process, with the remaining financing expected to close in 2025. For more information on Castlerock Green Energy: castlerockgreenenergy.com For more information on Khasma Capital: khasmacapital.com |
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