Tidewater Renewables Ltd. released first quarter financial results on May 11, confirming that the company’s 3,000-barrel-per-day (45.99 MMgy) renewable diesel complex under development at its Prince George refinery in British Columbia is expected to reach commercial production by the end of the second quarter.
Rob Colcleugh, interim CEO of Tidewater Renewables, said the facility is more than 95 percent complete and the project is progressing as expected. He said commissioning operations are progressing on several units, with the final commissioning and startup expected to begin by the end of the second quarter.
Ray Kwan, chief financial officer of the company, said the startup plan involves a gradual and measured increase in production, translating to a 75 percent to 85 percent utilization rate during the second half of this year.
In April, Tidewater confirmed that that all major pieces of plant equipment were onsite and that the majority of the dry commissioning of the utility packages was already complete. The facility’s tank farm and rail systems were also ready for operation as of mid-April.
