sionalism and warmth that Mapleton has provided for so many years .” Cetane ( www . Cetane . com ) served as the sole arranger and financial advisor to Mapleton Oil Co .
� BRAYA RENEWABLE FUELS REFINERY STARTS COMMERCIAL OPERATIONS
Braya Renewable Fuels announced the start of commercial production at its renewable fuels refinery in Come By Chance , Newfoundland and Labrador . Braya says it anticipates initial production capacity of 18,000 barrels per day of renewable diesel , with plans to expand production capacity , add sustainable aviation fuel production capabilities and explore green hydrogen production . The on-site production of renewable diesel , sustainable aviation fuel , and green hydrogen offers proven alternatives to fossil fuels and decreases carbon emissions linked to sectors such as heavy-duty transport , aviation , and heavy industry , the refinery operators say .
Cresta Fund Management , a Dallasbased private equity firm , acquired a controlling interest in the once-idled petroleum refinery in November 2021 . The conversion project resurrected an asset for the local Newfoundland and Labrador community , supporting more than 800 jobs during the construction phase and will provide 200 full-time positions to support ongoing operations , the refinery operators say .
Braya ’ s ownership group includes Cresta , majority owner and controlling investor , North Atlantic Refining Corp ., which is managed by Silverpeak , and Energy Capital Partners .
Braya Renewable Fuels converted the Come By Chance Refinery to renewable fuel operations and renamed it after the provincial braya flower . The refinery is strategically located to deliver fuels to a variety of end use markets , according to Braya Renewable Fuels . The refinery plans to produce renewable fuel and sustainable aviation fuel to help decarbonize the heavy road transport and aviation sectors .
“ With the Low Carbon Fuel Standard program in place , California is currently the biggest market for renewable diesel and sustainable aviation fuel , but with environmental regulations and sustainable fuel requirements being introduced around the world , we expect significant additional markets to develop across the U . S ., Canada and Europe ,” said a spokesperson for Braya . For more information , visit https :// brayafuels . com . l FON
8 MARCH 2024 | FUEL OIL NEWS | www . fueloilnews . com