Ryze Renewables gets court approval to sell assets for $36.5 million

By Sarah Lizee

Olympia, Wash., June 22 – Ryze Renewables II, LLC received court approval to sell its assets to Edgewood Renewables, LLC for $36.5 million, according to an order filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

A joint bid from Savage Services Corp., Annevow LLC and Triten Renewables, LLC was named backup bid, as previously reported.

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

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