The U.S. House of Representatives burned the midnight oil of the first day in the New Year and signed the Senate’s “fiscal cliff” bill. The package includes several tax extenders items, including the reinstatement of the 2013 biodiesel blenders tax credit as well as retroactive credit for 2012. Shortly after the vote, the biodiesel industry reacted including the Renewable Energy …
REG Newton Extends Loan Agreement
Renewable Energy Group (REG) has announced that its REG Newton, LLC loan with AgStar Financial Service, PCA was extended for one additional year. The biodiesel facility entered into this debt agreement with AgStar in conjunction with the related March 2010 acquisition of the assets of Central Iowa Energy, LLC. “We’re pleased that the lender syndicate saw fit to extend this …
Biodiesel Maker REG to Go Into Four NY, NJ Terminals
The Big Apple (and the surrounding area) will be turning a little greener. Iowa-based biodiesel producer Renewable Energy Group (REG) announced its biodiesel will be available at new positions at four biodiesel terminals in the New York metropolitan area. This company press release says the move will help augment the area’s heating oil and diesel supplies: “Gaining access to the …
REG Buys Georgia Biorefinery
Renewable Energy Group (REG) today announced the purchase of a 15 million gallon-per-year biodiesel production plant near Atlanta, Georgia. The multi-feedstock facility, which will operate as REG Atlanta, LLC, is located in Ellenwood, Georgia, 11 miles southeast of Atlanta with easy access to major Southeast transportation routes. REG acquired the former BullDog Biodiesel operation for cash and in-kind consideration of …
REG Reports 3rd Quarter Financial Results
The Renewable Energy Group (REG) has reported its third quarter financial results. Revenues were $322.9 million, an increase of 26 percent compared to revenues of $256.5 million for the same period in 2011. Third quarter 2012 adjusted EBITDA was a loss of $2.3 million, a decrease of 105 percent compared to $46.7 million for the same period in 2011. A few …
REG Acquires Texas Biorefinery
Renewable Energy Group (REG) has announced the acquisition of a biorefinery in Texas to expand its biodiesel production output. With the acquisition of a 15 million gallon per year biorefinery located in New Boston, Texas, REG’s nameplate biodiesel production capacity is expected to increase to more than 225 million gallons annually. REG paid $300,000 in cash and issued 900,000 shares …
REG Breaks Ground on Plant Expansion
The country’s largest biodiesel producer, Renewable Energy Group (REG), has broken ground on the expansion to its biodiesel plant in Glenville, Minnesota. A groundbreaking ceremony was held and many biofuel supporters from across the state and the local community were on hand for the event. The upgrade is estimated to cost $20 million. “No matter who we’ve talked to, the …
REG Opens Biodiesel Terminal in Long Beach
A new biodiesel terminal is off and running in Long Beach, California compliments of the Renewable Energy Group (REG). The first truckload of biodiesel was picked up by Whole Energy, a fuel distributor and retailer operating in Washington, Oregon and California. “Whole Energy is committed to biodiesel, helping Californians meet their carbon reduction goals, and offering supply for Oregon and …
REG to Offer Biodiesel at California Terminal
Renewable Energy Group will be offering wholesale biodiesel under a new agreement with Maxum Petroleum at its Rancho Dominguez (California) terminal location outside of Long Beach. Under the supply agreement, the terminal is expected to offer REG-9000® biodiesel to petroleum jobbers or large fleets beginning mid-August. Maxum Petroleum is one of the largest independent energy logistics companies in North America …
GROWMARK Picks Up 1st Truckload of Biodiesel at Ohio Terminal
GROWMARK’s network fuel supplier Trupointe Cooperative Inc. picked up the first truckload of biodiesel at the new New Lebanon Ohio Terminal owned by the Renewable Energy Group (REG). The facility is located outside of Cincinnati. The facility is producing REG-9000 branded biodiesel produced from natural oils, fats and greases and meets or exceeds ASTM quality specifications for biodiesel. “GROWMARK and Trupointe Cooperative Inc. …