renewaFUEL LLC, a subsidiary of Cliffs Natural Resources Inc. (CLF), said that its board has approved a plan for the construction and operation of a next-generation biomass fuel production facility at the Telkite Technology Park, which is located at Sawyer Airport near Marquette, Mich.
renewaFUEL intends to move forward with a lease agreement for the use of two large aircraft hangars, which formerly housed B-52 aircraft when the facility was part of K.I. Sawyer Air Force Base.
Once begun, construction and renovation at the facility, a $19 million capital project, is expected to take approximately nine months.
The plant is expected to employ approximately 25 people and will produce 150,000 tons per year of high-energy, low-emission biofuel cubes.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.