AMES, Iowa, Nov. 30, 2017 (GLOBE NEWSWIRE) -- Renewable Energy Group, Inc. (NASDAQ:REGI) Interim President and CEO Randy Howard issued the following statement regarding the Environmental Protection Agency’s release of the final Renewable Volume Obligations (RVOs) for 2018 Advanced Biofuel and 2019 Biomass-Based Diesel:
“The Administration heard us when we said the Advanced Biofuel RVO should grow in 2018, not be cut as EPA originally proposed. While we would have liked to see a larger increase, we consider this a crucial win – signaling a policy of continued RVO growth under the Trump administration.
It would have been even better if EPA continued that policy of growth with the 2019 Biomass-Based Diesel RVO as we advocated. We feel the Administration missed an opportunity in not continuing a sensible and consistent growth trajectory for biomass-based diesel. We firmly believe the US industry is fully capable of delivering increasing volumes of biomass-based diesel to meet a growing RVO as Congress intended when it created the RFS. We will continue to work with EPA in 2018 to develop workable plans for additional growth in 2019.
We owe a huge debt of gratitude to our legislative champions, agriculture partners and others in the biodiesel supply chain. Our unified voice was heard loudly and clearly that biodiesel improves American energy security, food security, rural economies and the environment.
We look forward to proving to EPA and America that we can easily exceed these RVO levels justifying further growth in 2020 and beyond.”
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ:REGI) is a leading provider of cleaner, lower carbon intensity products and services. We are an international producer of biomass-based diesel, a developer of renewable chemicals and are North America's largest producer of advanced biofuel. REG utilizes an integrated procurement, distribution, and logistics network to convert natural fats, oils, greases, and sugars into lower carbon intensity products. With 14 active biorefineries, a feedstock processing facility, research and development capabilities and a diverse and growing intellectual property portfolio, REG is committed to being a long-term leader in bio-based fuel and chemicals.
Executive Director, Corporate Affairs
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Source: Renewable Energy Group, Inc.
Released November 30, 2017