Red Rock Biofuels to sell bonds in order to secure gap funding

In Oregon, the Lake County Examiner newspaper reports that Red Rock Biofuels confirmed it has run out of funding for its first of a kind aviation biofuel project, so is leveraging its $300 million in existing property and assets to raise funding through bonds. Redesigns meant to boost production capacity by 15% have led to additional costs, while the overall original scope of the project is about 75% complete but with the new scope it’s about 60% or so. Depending on when the bonds are sold, the facility could still be online by February 2022. 

Category: Fuels