Red Rock Biofuels parts ways with top execs, searches for development partner
Red Rock Biofuels LLC is working with GLC Advisors & Co. to source a development partner to finance completion of its 20-million-gallon-per-year renewable diesel and sustainable aviation fuel (SAF) project in Lakeview, Oregon, using woody biomass feedstock.
The company stated it has parted ways with former CEO Terrance Kulesa and Jeffrey Manternach, co-founder and chief financial officer, and put in place new management, a new engineering team and an independent committee of the board, each with expertise and experience in engineering, energy project construction and turnaround management.
“Specifically, the company terminated its arrangements with companies affiliated with Kulesa and Manternach and transitioned to a best-in-class engineering, procurement and construction (EPC) team that includes S&B Engineers and Constructors Ltd., Nexus Program Management Group LLC, which will be evaluating startup and commissioning efforts … and EthosEnergy, which is providing asset-management services,” Red Rock Biofuels stated.
Chip Cummins, an executive director at RPA Advisors who began working with Red Rock Biofuels nearly a year ago, is serving as the interim CEO and will work with all involved to find a new development partner.
“The company is uniquely positioned to deliver sustainable biofuel with attractive financials and a scalable model and I’m very focused on delivering upon that mission,” Cummins said.