​​​​​​​Chevron-Backed Renewable Oil JV Secures $16M DIP Loan

By Clara Geoghegan · December 5, 2023, 9:43 PM EST

Novvi LLC, a renewable oil joint venture that's majority-owned by a Chevron subsidiary, can use $16 million in debtor-in-possession funding, a Texas bankruptcy judge ruled Tuesday, overriding objections from an investor...

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Bankruptcy Scorecard

Summary

Novvi LLC is a renewable biofuel joint venture majority-owned by a Chevron subsidiary and co-owned by German oil refiner H&R Group and also-bankruptcy biochemical company Amyris

Case Number

23-bk-90906

Judge

Christopher M. Lopez

Venue

U.S. Bankruptcy Court for the Southern District of Texas

Capital Structure

Total Liabilities:

$29.7 million

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