Braya Renewable Fuels has achieved commercial operations, according to a news release. This marks the completion of its refinery conversion project and is the beginning of providing reliable renewable fuel for the energy transition.
Braya anticipates initial production capacity of 18,000 barrels per day of renewable diesel, with future plans to expand production capacity, add sustainable aviation fuel production capabilities and explore green hydrogen production.
Cresta Fund Management, a Dallas-based private equity firm, acquired a controlling interest in the once-idled petroleum refinery in November 2021 and, through this conversion project, has resurrected the facility in Come By Chance, Newfoundland and Labrador.
Braya’s ownership group includes Cresta, majority owner and controlling investor, North Atlantic Refining Corp. (NARC), which is managed by Silverpeak, and Energy Capital Partners.
