Tidewater Renewables Reports Strong Q2 Results, Asset Sales

Tidewater Renewables Ltd. (TSE:LCFS) has released an update.

Tidewater Renewables Ltd. reported a strong second quarter in 2024 with a net income of $4.9 million and a record Adjusted EBITDA of $29.6 million, a significant improvement from the previous year. The company’s performance was bolstered by high utilization at its Renewable Diesel & Renewable Hydrogen Complex and the advancement of its sustainable aviation fuel project. Additionally, Tidewater Renewables is set to improve its financial position through strategic asset sales, including its canola co-processing infrastructure and used cooking oil feedstock assets.

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