Biofuels Project Sinks
The Red Rock Biofuels project in southern Oregon appears headed for foreclosure according to notices published in the Lake County Examiner newspaper in late December after the company failed to make principal and interest payments on some $300 million in debt. The notice set a February 4 payment deadline with a property auction scheduled for February 9. Originally scheduled for completion in 2017, the plant was going to use biomass from regional forests to produce sustainable aviation fuel (SAF) and was boosted by a $75 million Dept. of Defense grant and fuel commitments from FedEx and Southwest Airlines, plus state and local incentives and infrastructure improvements.
Cost overruns, process re-engineering, COVID-related delays and bankruptcy of a key supplier all affected the project. Construction had begun and there’s lots of equipment and machinery on site. Officials say there have been no public efforts to find a buyer to complete, repurpose or move the refinery.
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Mercer Launches ‘Growing Forests – Growing A Future’
Mercer had announced the launch of a program supporting forest owners in Germany, called “Growing Forests – Growing A Future.” Mercer Holz, the wood purchasing arm of Mercer, is committed to partnering with forest owners in Germany to sustain the longevity of their forests. Over the next few years, in a concrete step of solidarity, Mercer will provide participating forest owners across Germany with a careful selection of seedlings to help replenish their forests. This is one of the first company-sponsored large-scale tree planting endeavors within the German wood products industry…
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