In Canada, Braya Renewable Fuels, a producer of low-carbon intensity renewable fuels, announced the closing of two transactions that support the conversion of Braya’s refinery operations.
A Supply and Offtake Agreement was executed with Macquarie Energy Canada to provide inventory monetization for renewable feedstocks and products. Simultaneously, Braya executed a $75 million senior secured term loan with HPS Investment Partners which will be used to further Braya’s renewable diesel conversion project.
“These transactions represent a major milestone toward completing our renewable diesel conversion project and entering into the commercial phase,” said Todd O’Malley, CEO of Braya.
Braya said it expects to complete the conversion of its previously announced Come-by-Chance renewable diesel facility in December and will immediately begin startup procedures for the commercial sale of renewable diesel.
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