Viking announces agreement to acquire Reno biorefinery
December 2, 2021
BY Erin Krueger
Viking Energy Group Inc. on Dec. 1 announced it has entered into a membership interest purchase agreement (MIPA) to acquire a 100 percent interest in a group of companies developing a renewable diesel plant in Reno, Nevada.
According to Viking, the facility has a nameplate production capacity of 43 MMgy and is 95 percent complete. A pretreatment unit under construction within the plant is approximately 30 percent complete, the company added.
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Documents filed with the U.S. Securities and Exchange Commission indicate Viking entered the MIPA on Nov. 18 with RESC Renewables Holdings LLC to acquire all of the membership interest in New Rise Renewables LLC, which owns all membership interests in New Rise Renewables Reno LLC and New Rise Processing Reno LLC. The SEC documents explain that the acquired entities are in the process of engineering, developing, constructing and bringing into commercial operations the Reno renewable diesel plant.
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