Nexus Development Capital announces investment in Castlerock Biofuels

Castlerock Biofuels is dedicated to developing renewable fuel oil production facilities, with its flagship project located in the Katahdin region of Maine, US. This project will produce 20 million gal. of RFO® renewable fuel oil annually, utilising Ensyn's proprietary RTP® technology. At completion, this will be the largest project in the world to produce renewable fuel oil using pyrolysis of wood feedstock. RFO® renewable fuel oil produced at this project will be used to heat and cool facilities in the Northeast, with construction expected to commence within the next 12 months.

Ensyn's RFO renewable fuel oil has been proven to reduce lifecycle greenhouse gas emissions up to 85%. The primary applications are in co-processing in traditional refineries to produce renewable transportation fuels and as renewable heating fuel to replace traditional fossil-based heating oil. Castlerock Biofuel supports colleges and universities, district energy plants, and industrial facilities to economically meet their sustainability goals.

The investment from NDC will facilitate the development of this project and the expansion of additional renewable energy production initiatives. Future projects in Washington and Minnesota are also in development.

John Murphy, Managing Director of Castlerock Biofuels, commented: "The investment from NDC is a significant milestone for our company. It not only supports the development of our flagship project in Maine, but also paves the way for future projects that will contribute to a greener and more sustainable future."

Read the article online at: https://www.hydrocarbonengineering.com/clean-fuels/25072024/nexus-development-capital-announces-investment-in-castlerock-biofuels/