REG Energy Services, LLC, a wholly-owned subsidiary of Renewable Energy Group, Inc., has secured a $30 million line of credit from Iowa-based Bankers Trust. The line is a one-year credit facility, with an accordion option to expand to $40 million, subject to customary conditions. Chad Stone, REG CFO noted, “This credit line gives REG Energy Services additional capital to expand our blended fuel offerings and add to our already expansive distribution network.- The National Renewable Energy Laboratory (NREL) has updated its annual survey of US non-starch ethanol and renewable hydrocarbon biofuels producers. The 2015 Survey of Non-Starch Ethanol and Renewable Hydrocarbon Biofuels Producers provides an inventory of the domestic advanced biofuels production industry as of the end of calendar year 2015, documenting important changes (e.g., biorefinery development, production capacity, feedstock use, and technology pathways) that have occurred since the publication of the original 2013 survey.
- Stratas Advisors’ has released its Global Biofuels Outlook, a regional and country-level forecast through 2035 of policy, prices, supply and demand. This forecast has a globally-balanced assessment from Stratas Advisors’ petroleum and alternative fuels services. The report shows global ethanol usage expanding the gasoline pool by nearly 9 percent and biodiesel usage expanding the diesel pool to 3 percent by 2035.
- The Department of the Interior and the Bureau of Ocean Energy Management took an important step toward the goal of developing sustainable offshore wind power off the coast of New York, by designating an official “Wind Energy Area” eleven nautical miles off Long Beach on Long Island’s South Shore. The news came one day after the administration withdrew its plan for offshore oil and gas drilling off the southeast Atlantic coast.
