Never-opened $300 million-plus biofuels refinery facing foreclosure in southern Oregon

By Ted Sickinger
The Oregonian
January 7, 2023
Category: Business & Politics
Region: United States, US West

A much-hyped but yet-to-be-completed aviation biofuels refinery in southern Oregon appears to be headed for foreclosure after backers failed to make principal and interest payments on some $300 million in debt.  Red Rock Biofuels launched efforts nearly a decade ago to build the cutting-edge facility in Lakeview but repeatedly ran into obstacles, even as project skeptics questioned its feasibility.  …The notice said the property would be auctioned to the highest bidder on Feb. 9 if the project’s owner didn’t pay the entire amount due to date and cure any other default by five days before that date.  …The project was originally slated to come online in 2017, converting woody biomass such as slash from logging and forest thinning projects in the area into jet-grade liquid fuel that could be used as a substitute for the fossil-based fuel currently used to power the nation’s aviation fleet.

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