NEXT Renewable Fuels purchased the assets of Red Rock Biofuels and plans to produce renewable natural gas from wood waste at the facility.
A company looking to build a multibillion-dollar biodiesel refinery in northwest Oregon has acquired the assets of a failed biofuels project in southern Oregon, with plans to pivot that facility away from its initial production plan.
A subsidiary of NEXT Renewable Fuels closed on the deal last week with bondholders of Red Rock Biofuels, who foreclosed on the facility in Lakeview after its backers failed to make principal and interest payments on some $300 million in debt.
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