US renewable fuel oil company Castlerock Biofuels LLC has received a USD 9 million (EUR 8.29m) investment from Nexus Development Capital LLC (NDC) to advance its flagship project in the Katahdin region of Maine.
Castlerock Biofuels is a joint venture between renewable liquid fuels and chemical products maker Ensyn Corporation and renewable energy and infrastructure fund Castlerock Green Energy LLC (CGE).
The Maine project, utilizing Ensyn's technology, aims to produce 20 million gallons (75.7 million liters) of renewable fuel oil annually through the pyrolysis of wood feedstock. The renewable fuel oil will be used to heat and cool facilities in the Northeast. Construction is expected to begin within the next 12 months.
Ensyn's RFO renewable fuel oil is primarily used in co-processing at traditional refineries to produce renewable transportation fuels and as a renewable heating fuel to replace traditional fossil-based heating oil.
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