Government provides financial support for Braya Renewables

Premier John Hogan and Minister of Industry, Energy and Technology Steve Crocker today announced that the Provincial Government is providing financial support in the form of a repayable loan to Braya Renewable Fuels.

Braya requested a loan to support continued maintenance of the facility and equipment during a transitional period.

Braya’s commercial operations have been impacted by changes to tax credit programs in the U.S. market. On January 6, 2025, Braya initiated a temporary shutdown at the refinery which lasted until June 2025, when the company resumed operations. Braya advised that this shutdown was due to lower-than-normal margins and market disruptions caused by the expiration of the Federal U.S. Tax Credit for renewable diesel in December 2024.

The refinery has approximately 240 full-time employees.

The Provincial Government has responded with a $25 million repayable loan to support maintaining the workforce and other direct facility costs. Braya is undertaking work to advance facility upgrades, feedstock expansion and diversification to other markets.

The terms of the five-year term repayable funding support are similar to the support provided to the refinery in 2021.