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.
Latest News
Tigercat Opens West Coast Parts Warehouse
Tigercat Industries is pleased to announce that it has opened a new 35,000 sq. ft. (3,250 sq. m) parts warehousing and distribution facility in Kelso, Wash. with a current stock of inventory valued at $3.5 million. “We are excited about opening the western warehouse for many reasons,” explains Tigercat parts manager, Brian Jonker. “To have inventory closer to our western dealers and customers will reduce both downtime and freight costs. To be able to potentially service any customer for an extra three hours of the day is also a benefit to the entire Tigercat network…
WANT MORE CONTENT?
Spanning seven decades since its inception in 1952, Timber Harvesting highlights innovative and successful logging operations across the U.S. and around the world. Timber Harvesting also emphasizes new technology and provides the best marketing vehicle for the industry’s suppliers to reach the largest number of loggers in North America and beyond.
Call Us: 800.669.5613