- Cresta Funds Management (Cresta) has chosen Topsoe’s HydroFlexTM solution for revamping the Braya Renewable Fuels refinery (Braya) in Newfoundland, Canada.
- The refinery will produce up to 18,000 barrels per day of Renewable Diesel and sustainable aviation fuel (SAF) initially and the capacity will increase further in various stages of expansion.
The Braya refinery is strategically located, with world-class logistics assets, to source global feedstocks and to sell the produced renewable fuels into the United States, Canada and Europe. The refinery will be world scale – one of the top 5 largest in the world at startup. The refinery’s hydrocracker and diesel hydrotreater will be revamped to produce renewable diesel and SAF from various renewable feedstocks.
Henrik Rasmussen, Managing Director, The Americas, Topsoe, says: “We are proud to be part of this exciting refinery revamp with Cresta and to support their ambition to deliver renewable diesel and jet fuel for the local and global markets.”
In November 2021, Cresta acquired a controlling interest in the Braya refinery, which before was known as North Atlantic Refining Company (NARL).
Related to the acquisition, Chris Rozzell, Managing Partner at Cresta said: “We’re proud to be associated with this new chapter for the refinery as it fully transitions from fossil fuels to the production of sustainable aviation fuel and renewable diesel fuels that will be critical to decarbonizing the aviation and heavy transport sectors. We also applaud the concrete steps the Government of Canada is taking to meet its climate objectives, and we look forward to a collaboration to position Braya Renewable Fuels to play a vital role in boosting the country’s capacity to produce clean fuels.”
What is HydroFlex™
With HydroFlex™, customers can convert low value feedstocks into drop-in renewable jet and diesel that meets all of the globally accepted specifications for these fuels. The innovative HydroFlex™ process layout offers lower capital expenditure (CAPEX), but also a lower energy consumption during operation, resulting in a lower Carbon Index (CI). Topsoe’s HydroFlex™ can be deployed in both grassroots units and revamps for co-processing or stand-alone applications. HydroFlex™ is by far the most successful renewable fuels technology globally.
About Cresta Fund Management
Cresta Fund Management is a growth-oriented, middle market-focused private equity firm that invests in sustainable and conventional energy, industrial, materials, and agricultural infrastructure. Founded in 2016 and based in Dallas, Texas, Cresta’s team has a strong operational history, with decades of combined development, engineering, commercial, trading, legal and financial experience in the infrastructure industry, and its founding partners have worked together as a team since 2007. www.crestafunds.com.
Founded in 1940, Topsoe is a global leader in developing solutions for a decarbonized world, supplying technology, catalysts, and services for worldwide energy transition.
Our mission is to combat climate change by helping our partners and customers achieve their decarbonization and emission-reduction targets, including those in challenging sectors: aviation, shipping, and production of crucial raw materials. From low-carbon or zero-carbon chemicals, to renewable fuels and plastic upcycling, we are uniquely positioned to aid humanity in realizing a sustainable future.
Topsoe is headquartered in Denmark, with 2,100 employees serving customers all around the globe.