Mainebiz

February 24, 2025

Issue link: https://nebusinessmedia.uberflip.com/i/1532559

Contents of this Issue

Navigation

Page 16 of 23

W W W. M A I N E B I Z . B I Z 17 F E B R UA R Y 2 4 , 2 0 2 5 F O C U S E N E R G Y / E N V I RO N M E N T Now Houston-based Castlerock Biofuels LLC, operating locally through its subsidiary EME Biofuels LLC, is proposing to build a facility that turns logging residue into biocrude. e pro- cess uses advanced thermal processing technology developed by Ensyn Corp. and its affiliated companies. e company projects the plant would produce up to 20 million gal- lons of "fast pyrolysis bio-oil" annually, according to a news release. e facility would be a larger version of Castlerock's plant in Quebec, which has been pro- ducing fuel since 2018. e process uses a renewable byprod- uct that would otherwise decompose in the forest, and the product's greenhouse gas emissions rate would be up to 96% lower than petroleum-based heating oil or natural gas, the company said. In addition to increased tax rev- enues and indirect economic growth that the Millinocket facility could spur, Castlerock predicts that more than 300 jobs would be created, across construc- tion, full-time operations and in the forest industry supply chain. Financing for the project is expected to close this year, with construction expected to follow within six months of the funding closing. e plant is expected to be fully operational in 2027. Fleet drivers to get a hand with EV charging from AI startup Making the switch to electric from inter- nal combustion engines can raise a num- ber of questions for drivers and managers of municipal and commercial fleets. Yarmouth-based SBD Technologies is looking to address these concerns with the development of a platform to facili- tate charging processes for fleet EVs. "When they first get behind the wheel of an EV, they have lots of understandable questions," said Bill Cooper, a former WEX Inc. executive who is co-founder and chief revenue officer for the AI startup. S.W. Cole Engineering wanted to add a new business line which was capital intensive. CFO Jason Richard called Bar Harbor Bank & Trust to finance their new drilling business. With our understanding of the company, we helped them expand into this new line, grow their geographic reach and streamline their cash management. To see this and other success stories, go to www.barharbor.bank/success-stories. Member FDIC Equal Housing Lender Additional terms/fees may apply for some services. All applications subject to approval. Want to grow your business? www.barharbor.bank • 888-853-7100 Over 50 locations across northern New England We can make it happen. Together. Call 207-669-6811 today to connect with our Commercial Banking team. With the bank's help, our growth has been a success. —Jason Richard, CFO, S.W. Cole Engineering Building Maine's Renewable Energ y Fut ure Drummond Woodsum's Renewable Energy & Environmental Practice is leading the way in sustainable, forward-thinking solutions for Maine's energy challenges. Our dynamic team brings specialized expertise in energy, environment, and land use law to support clients across industries such as renewable energy, natural resources, manufacturing, municipalities, and more. We're passionate about making Maine's energy future greener and more resilient. Let us help you navigate the complexities of renewable energy law and turn your vision into reality. Learn more about our proven success and comprehensive expertise at dwmlaw.com | 800.727.1941 F I L E P H O T O / M A U R E E N M I L L I K E N The site of a former Great Northern paper mill is becoming a hotbed for renewable energy projects. C O N T I N U E D O N F O L L OW I N G PA G E »

Articles in this issue

Links on this page

Archives of this issue

view archives of Mainebiz - February 24, 2025