In New York, Nexus Development Capital, LLC (NDC), announced an investment of approximately $9 million in Castlerock Biofuels, a joint venture company led by Ensyn Corporation and Castlerock Green Energy (CGE).
The company noted that 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 Ensyn’s proprietary RTP technology.
Joshua Kaufman, CEO and co-founder of NDC, said: “We are thrilled to partner with Castlerock Biofuels and support their mission to develop sustainable energy solutions. This investment aligns with our commitment to accelerate the deployment of sustainable infrastructure.”
John Murphy, Managing Director of Castlerock Biofuels, added: “The investment from NDC is a significant milestone for our company. It not only supports the development of our flagship project in Maine but also paves the way for future projects that will contribute to a greener and more sustainable future.”
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Tags: Castlerock Biofuels, New York, Nexus Development Capital, renewable fuel oil
Category: Fuels
