Nexus Development Capital invests $9M in Castlerock Biofuels : The Daily Digest
Summary
In New York state, Nexus Development Capital, LLC announced an investment of approximately $9 million in Castlerock Biofuels, a joint venture company led by Ensyn Corporation (Ensyn) and Castlerock Green Energy LLC (CGE). This investment marks a substantial step forward in the development of renewable fuel production facilities in the United States.Castlerock Biofuels is dedicated to developing renewable fuel oil production facilities, with its flagship project located in the Katahdin region of Maine. This project will produce 20 million gallons of RFO renewable fuel oil annually, utilizing Ensyns proprietary RTP technology. At completion, this will be the largest project in the world to produce renewable fuel oil using pyrolysis of wood feedstock. Castlerock Biofuel supports colleges and universities, district energy plants, and industrial facilities to economically meet their sustainability goalsThe investment from NDC will facilitate the development of this project and the expansion of additional renewable energy production initiatives.