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

Red Rock Biofuels refinery in Lakeview is not yet operational and faces a foreclosure auction of its assets after defaulting on debt.

Biorefinery
Typography

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.

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Source: The Oregonian/OregonLive

 

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