New Rise Renewables | Reno-Tahoe Industrial Complex SAF Conversion
USA
Operational
Overview
Status
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Operational
Region
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North America
Geography
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USA
State
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Nevada
Equity Owner
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Camber Energy
Proponent
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New Rise Renewables Reno
Output
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Sustainable aviation fuel
Type of electricty
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Capacity
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3200 barrel-per-day SAF
Financing
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Technology
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Technical Advisors
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Advisors
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Project Contact
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Will Purdy, Twain Financial Partners’ director of real estate
Lawyers
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Project Cost
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$ 300m
Offtaker
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Commercial Operations Date
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2022 (full conversion in 2024)
Decommission Date
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FID
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Description
New Rise Renewables converted its renewable diesel refinery into a 3200 barrel-per-day sustainable aviation fuel facility. It is located at the Reno-Tahoe Industrial Complex in Storey County, Nevada.
It is scheduled to commence SAF production in the summer of 2024, according to a news release.
Camber Energy reached a deal in 2023 to acquire 100% of the interests in New Rise Renewables.
The plant was purchased for $499m, representing a purchase price of $750m less $251m of existing company liabilities. The seller was RESC Renewables Holdings, a predecessor company to Ryze Renewables, which developed the project.
The parties had reached a framework for the deal in late 2021, subject to purchase price adjustments and other closing conditions.