REG Reaches New Sales Milestone with 50 Million Gallons of Biomass-Based Diesel Sold in a Month
NOTE: A video on this topic can be viewed at this link: https://youtu.be/cV3024N935o
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Renewable Energy Group, Inc. (NASDAQ: REGI) announced today that the company sold more than 50 million gallons of biomass-based diesel during the month of August 2016. The sales volume created a new milestone for REG and was a first in the company's history.
"We are thankful for our customers, vendors and investors who made this milestone possible because of the relationships and business we have had the privilege of building with them over the last 10 years," said Daniel J. Oh, REG President and CEO. "This is an operational testament to the total team effort within REG, and proof of our industry's ability to respond to growing demand for high quality, biomass-based diesel in support of consistently growing RFS-2 RVOs."
REG's industry-leading, lower carbon intensity, advanced biofuel producing fleet of plants, and international supply chain footprint helped the company break through the operations intensive 50-million gallon mark.
The biomass-based diesel sold by REG in August is estimated to have displaced greenhouse gas emissions equal to approximately 35 million gallons of petroleum-based diesel and more than 360,000 metric tons of CO2 emissions. Over the first half of 2016, REG biomass-based diesel on average is estimated to have reduced lifecycle GHG emissions by approximately 72 percent compared to petroleum-based diesel.
REG sold approximately 50.9 million gallons of biodiesel and renewable hydrocarbon during the month. The figure does not include sales from Petrotec, the German biodiesel producer in which REG has majority ownership.
A video on reaching the 50 million gallon milestone, which is the second in a series of videos celebrating REG's 10-year anniversary as an independent company, can be viewed at the company's website, www.regi.com or by clicking here to view the video on REG's YouTube channel.
About Renewable Energy Group
Renewable Energy Group, Inc. is a leading North American advanced biofuels producer and developer of renewable chemicals. REG utilizes a nationwide production, distribution and logistics system as part of an integrated value chain model to focus on converting natural fats, oils and greases into advanced biofuels and converting diverse feedstocks into renewable chemicals. With 12 active biorefineries across the country, research and development capabilities and a diverse and growing intellectual property portfolio, REG is committed to being a long-term leader in bio-based fuels and chemicals.
For more than a decade, REG has been a reliable supplier of advanced biofuels which meet or exceed ASTM quality specifications. REG sells REG-9000 biomass-based diesel to distributors so consumers can have cleaner burning fuels that help diversify the energy complex and increase energy security. REG-9000 biomass-based diesel is distributed in most states in the US. REG also markets ultra-low sulfur diesel and heating oil in the northeastern and midwestern US. For more information on REG visit our website at www.regi.com.
Renewable Energy Group, Inc.
Anthony Hulen, 703-822-1972