AMES, Iowa, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Renewable Energy Group, Inc. (NASDAQ: REGI) President & CEO Randy Howard issued the following statement regarding the Environmental Protection Agency’s release of the final Renewable Volume Obligations (RVOs) for 2019 Advanced Biofuel and 2020 Biomass-Based Diesel.
“We are very pleased to see growth for the Advanced Biofuel and Biomass-Based Diesel categories. It is clear that the industry can deliver higher volumes of cleaner burning fuels that consumers want to the market. We appreciate that Acting Administrator Wheeler has listened to our position and that this final RVO rule reflects that.
We look forward to continuing to work with the President and his Administration to show how continued growth of renewable fuels benefits rural America, American agriculture and energy security, and the environment.”
The final RVO rule will increase the minimum advanced biofuel volume for 2019 to 4.92 billion ethanol equivalent gallons, up from 4.29 billion gallons for this year, and 2.43 billion gallons of biomass-based diesel in 2020, up from 2.1 billion gallons for 2019.
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.