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Nexus Development Capital invests in Castlerock Biofuels

By Nexus Development Capital

August 02, 2024

Advanced Biofuels Business 

Nexus Development Capital LLC has announced an investment of approximately $9 million in Castlerock Biofuels LLC, a joint venture company led by Ensyn Corp. and Castlerock Green Energy LLC.

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Recent studies by Iowa State University researchers explore the economic feasibility of grass-to-RNG production in different settings and from varying perspectives. The analysis helps flesh out the system’s win-win potential.

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Neste and HELLENiQ ENERGY, one of Southeast Europe's leading energy groups, have collaborated to deliver blended Neste MY Sustainable Aviation Fuel to HELLENiQ ENERGY’s facilities in Thessaloniki, Greece.

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Clean Energy Fuels Corp. has announced the opening of its latest renewable natural gas (RNG) fueling station in Davenport, Florida. The site is now providing RNG to heavy-duty trucking and other fleets operating busy routes.

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Green Impact Partners Inc. has finalized the carbon credit pathways under the Alberta Technology Innovation and Emissions Reduction program for its flagship project, the Future Energy Park, to be located in Calgary, Alberta.

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United on July 31 became airline to purchase SAF for use at O'Hare International Airport (ORD) and Gov. JB Pritzker joined the airline's leadership at ORD to highlight the role that Illinois' SAF tax credits played in bringing SAF to the facility.

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JetBlue and World Fuel Services, a World Kinect company, on July 31 announced a new commercial agreement to bring the first regular supply of blended SAF, provided by Valero Marketing and Supply Co. to JFK Airport as early as Q4 2024.

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Airbus, the Air France-KLM Group, Associated Energy Group, LLC, BNP Paribas, Burnham Sterling, Mitsubishi HC Capital Inc. and Qantas Airways Limited co-invested in a SAF financing fund to accelerate the production of SAF.

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CVR Energy Inc. on July 29 reported that the renewable diesel unit at its Wynnewood refinery in Oklahoma processed nearly 12 million gallons of feedstock during Q2. The company continues to consider a pivot to SAF production.

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Hyliion Holdings Corp. on June 29 announced the signing of a non-binding letter of intent (LOI) with U.S. Energy to will place a 200kW KARNO generator at a U.S. Energy RNG fueling station to ensure reliable and efficient power at the site.

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International Airlines Group has reached an agreement with the multi-energy company Repsol for the purchase and supply during the next six months of more than 28,000 metric tons of sustainable aviation fuel (SAF).

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Neste Corp. on July 25 released second quarter results, reporting that operational performance at the company’s facilities was solid during the three-month period despite a very challenging market environment for renewables.

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Valero Energy Corp. released Q2 financial results on July 25, reporting strong performance for both its ethanol and renewable diesel segments. The company’s SAF project in Texas remains on track to begin operations later this year.

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Viridi Energy announced on July 24 that it has signed a 20-year offtake agreement with Énergir, L.P., the largest natural gas distribution company in Quebec and sole pipeline natural gas distributor in Vermont.

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Firefly Green Fuels and Synagro Technologies Inc. have partnered to bring Firefly’s novel fuel-production techniques to the U.S. market. Synagro has agreed to be the exclusive supplier of the biosolids feedstock used in Firefly’s innovative process.

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Clean Energy Fuels Corp. announced it has broken ground on a renewable natural gas (RNG) production facility at South Fork Dairy in Dimmitt, Texas. Construction on the project is expected to be complete in 2025.

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Bright Renewables and BerQ RNG are partnering to develop four new RNG projects in Michigan and New York. The two companies currently operate six upgraders at three different locations and hope to collaborate on several more projects.

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Neste has commissioned terminal capacity at ONEOK’s terminal in Houston for blending and storing its SAF. Neste now has approximately 33.6 million gallons of SAF storage capacity at the facility with direct connection to pipeline infrastructure.

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LanzaJet on July 24 announced a strategic investment from Airbus. The investment enables LanzaJet to continue to build its capability and capacity to scale its proprietary ethanol to sustainable aviation fuel (SAF) process technology.

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Boeing has released guidance to defense customers that company-built military aircraft can operate on sustainable aviation fuel (SAF) at currently approved limits of up to 50% blend with conventional fuel.

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The U.S. EPA on July 18 announced it has reached a settlement with Lupton Petroleum Products Inc., and its affiliate Brad Hall Associates Inc., for violations of the Clean Air Act’s conventional and renewable fuel requirements.

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The U.S. Department of Transportation’s Federal Aviation Administration has launched $1 billion fiscal year (FY) 2025 funding opportunity that could help U.S. airports develop infrastructure to increase access to sustainable aviation fuel (SAF).

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Amp Americas on July 22 announced the completion of a project that converts dairy waste into RNG at Darlington Ridge Farms in Darlington, Wisconsin. The facility is the latest of Amp Americas’ 12 operating digesters.

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Cargill has surpassed the 50% completion milestone in the construction of its new canola facility located in West Regina, Saskatchewan. The new facility will produce canola oil for food and biofuels markets and canola meal for animal feed.

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The DOE has announced its intent to fund partnerships between industry stakeholders and Feedstock-Conversion Interface Consortium researchers. The partnerships will address the cost and risk impacts of feedstock and process variability.

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Nearly 2.04 billion RINs were generated under the RFS in June, down from 2.06 billion generated during the same month of last year. Total RIN generation for the first half of 2024 reached 12.07 billion.

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The U.S. EPA on July 18 released updated small refinery exemption (SRE) data, reporting that seven new SRE petitions have been filed under the RFS during the past month. A total of 46 SRE petitions are now pending.

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This year marks the 50th anniversary of Drax Power Station beginning to generate power and to celebrate this occasion the owners of the new ship, Ultrabulk, invited Drax to name their latest vessel.

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Maine Gov. Janet Mills on July 2 announced the award of a $100,000 grant to the Maine Pellet Fuels Association. The funding will support efforts to expand domestic markets for wood pellet fuel manufactured within the state.

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