Castlerock Biofuels attracts investment in flagship project in Maine

US renewable fuel oil company Castlerock Biofuels LLC has attracted an investment of USD 9 million (EUR 8.29m) from Nexus Development Capital LLC (NDC) to support the development of its flagship project in the Katahdin region of Maine.

Castlerock Biofuels is a joint venture of renewable liquid fuels and chemical products maker Ensyn Corporation and renewable energy and infrastructure fund Castlerock Green Energy LLC (CGE).

Utilising Ensyn technology, the Main project targets a production capacity of 20 million gallons (75.7 million l) of renewable fuel oil annually through pyrolysis of wood feedstock. The output will be used to heat and cool facilities in the Northeast.

Construction works at the site are expected to start within the next 12 months.

Ensyn's RFO renewable fuel oil is primarily applied in co-processing in traditional refineries to produce renewable transportation fuels and as renewable heating fuel to replace traditional fossil-based heating oil.

(USD 1 = EUR 0.922)

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