Renewable Energy Group Opens First Fueling Station
Station will provide cleaner fueling options to Seneca, Illinois community
AMES, IOWA – (July 17, 2019) - Renewable Energy Group, Inc. (NASDAQ: REGI) a leading advanced biofuel producer, today celebrated the grand opening of the company’s first diesel fueling station in Seneca, Illinois.
Construction on the around-the-clock, fully-automated station began earlier this year. Diesel customers from trucking fleets to local diesel vehicle owners will be able to fill up with biodiesel blended fuel to conveniently reduce harmful greenhouse gas emissions.
“This diesel fueling station is another example of how REG is moving fuel forward by expanding our capabilities,” said Cynthia J. Warner, REG President & CEO. “It gives us another avenue of getting our high quality, clean fuel to new and existing customers.”
REG Seneca, a 60 million gallon-per-year biorefinery located adjacent to the fueling station, will provide the low carbon biodiesel used in the diesel blends between B11 and above.
“More than 17,000 trucks go through REG Seneca each year,” said Gary Haer, Vice President of Sales and Marketing. “We are thrilled that those who help support our industry and the local community can fuel their vehicles right here at this station.”
REG Seneca has been producing biodiesel for over a decade and currently operates with 53 employees in addition to the hundreds of other jobs indirectly supported in agriculture, transportation and energy sectors. The Seneca plant also adds approximately $75 million into the Illinois economy through the purchasing of feedstocks. Last year, biodiesel produced at REG Seneca reduced approximately 556,000 metric tons of CO2 compared to emissions from petroleum diesel.
About Renewable Energy Group
Renewable Energy Group, Inc., (Nasdaq: REGI) is leading the energy industry transition to sustainability by transforming renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and North America’s largest producer of biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes an integrated procurement, distribution and logistics network to operate 14 biorefineries in the U.S. and Europe. In 2018, REG produced 502 million gallons of cleaner fuel delivering over 4 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.
Forward Looking Statement
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding the REG’s future growth and value creation. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to: potential changes in governmental programs and policies requiring or encouraging the use of biofuels, including RFS2; availability of federal and state governmental tax incentives; unanticipated changes in the biomass-based diesel market; competition in the markets in which we operate; technological advances or new methods of production or the development of energy alternatives to biomass-based diesel; our ability to generate revenue from the sale of fuels on a commercial scale and at a competitive cost, and customer acceptance of the products produced; unanticipated construction constraints; and other risks and uncertainties described in REG's annual report on Form 10-K for the year ended December 31, 2018, Form 10-Q for the quarter ended March 31, 2019, and other reports subsequently filed with the SEC. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.
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