Olympiad Project

Our proposed Olympiad Renewable Energy Centre (Olympiad Project), located in White River, Ontario, Canada will be designed as a state-of-the-art energy facility that would employ our Rentech-ClearFuels biomass gasification system and the Rentech Process. The project is designed to produce 23 million gallons of renewable, low-carbon RenJet® fuel and 13 million gallons of renewable naphtha per year. The fuel and naphtha will be produced from 1.3 million tons per year of Crown timber allotted to Rentech by the Province of Ontario.

The allotted timber Rentech is expected to receive is the largest ever awarded in the Provincial Wood Supply Competitive Process administered by the Ministry of Northern Development, Mines and Forestry. The ministry felt Rentech's Olympiad Project was the best use of the available timber. The allotment would provide Rentech with a reliable long-term supply of feedstock for the Olympiad Project and will supply Canada with a domestic source of certified low-carbon jet fuel.

Rentech has forged a significant partnership with the Pic River First Nation for up to an 18% equity interest in the project. Rentech is also working closely with Sustainable Development Technology Canada (SDTC), whose C$500 million NextGen Biofuels Fund (NGBF) offers a significant potential funding source of up to 40%, to a maximum of C$200 million of eligible project development and construction costs. The amount would be repaid from a percentage of the projects cash flows.

The Olympiad Project is expected to provide employment opportunities to a region that suffers from a struggling forestry sector. The project would leverage local sustainable forestry expertise, employ 83 full-time employees and create over 300 indirect and induced positions. The project is expected to employ 1,000 workers during peak construction.