Azure Secures $40M for Canadian SAF-Focus Production Site
Azure Sustainable Fuels Corp. has secured $40 million in funding to date for development of a renewable diesel production facility in Canada.
OAKHURST, N.J. (DTN) — Azure Sustainable Fuels Corp. has secured $40 million in funding to date, including from Natural Resources Canada’s Clean Fuels Fund, Canada Infrastructure Bank, and the Government of Manitoba, for development of a renewable diesel production facility in Canada, and is now fully funded through the completion of the Front-End Engineering and Design stage.
Completion of FEED for the 20,000 barrels per day (bpd) predominantly SAF facility is anticipated by the end of this year, with Final Investment Decision in the first half of 2025 enabling first production in 2027.
“Our ambition is to develop the first SAF-dedicated renewable fuel production facility of scale in Canada, by utilizing Canadian skillsets and natural resources to achieve first production in 2027,” said Douglas Cole, Azure’s CEO. “We have established critical partnerships with leaders in their respective industries that are required to successfully construct and operate a facility of this nature. At the same time, we have worked closely with federal, provincial and Indigenous governments to adhere to all regulations and requirements.”
Azure established partnerships with industry experts across the critical parts of the value chain, including Shell Catalysts and Technologies, RICHARD Design Services, CN, Savage, and Bartlett.