Ryze Renewables sets bid procedures for assets, seeks June 12 auction

By Sarah Lizee

Olympia, Wash., March 22 – Ryze Renewables II, LLC is seeking approval of bid procedures for its assets, according to a motion filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The assets include the company’s existing biofuels refinery in Las Vegas. The refinery is about 40% complete and will likely be operational in about 18 to 24 months after the next construction phase starts, the debtor said.

The company is also seeking court approval to pick a stalking horse bidder and provide bid protections.

Under the proposed bid procedures, the company would have until May 24 to file a stalking horse supplement.

Other key dates proposed under the procedures include a bid deadline of 10 a.m. ET on June 7, an auction on June 12, a sale hearing on June 16 and a closing date on or before July 2.

The Las Vegas-based renewable fuel producer filed bankruptcy on March 9 under Chapter 11 case number 23-10289.

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