REG Hits 1B Gallons of Biodiesel

STREATOR, Ill. (DTN) -- Renewable Energy Group, Inc. said in a news release Monday (4/21) it reached a milestone in its 17-year history with one billion gallons of biodiesel sales.

REG achieved this through investments in an integrated value chain including its manufacturing, sales and marketing, and supply chain management capabilities, the biodiesel producer said. The company also committed itself to research and development as well as continuous improvement, allowing it to streamline the production process and broadly expand the variety of raw materials used to make biodiesel.

"Since our inception we have endeavored to provide customers with a reliable and durable product that helps diversify the energy complex and increases energy security, improves our environment, and supports agriculture," said Daniel J. Oh, REG president and CEO.

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REG went from marketing 30,000 gallons of biodiesel in 1996 to more than 258 million gallons last year, REG said.

"We still remember what it took to get here and those who helped us," said Jeff Stroburg, chairman of the REG board of directors. "We remain committed to investing in our advanced biofuels and renewable chemicals capabilities."

REG was formed and began operating as an independent company in 2006, as the successor to the biodiesel operations of West Central Cooperative in Ralston, Iowa, which first began producing biodiesel from a one million gallon per year batch plant in 1996. Private investors, including West Central, provided capital enabling the company to grow, both organically and through acquisitions in California, Florida, Georgia, Illinois, Iowa, Minnesota, New Hampshire, New Mexico, New York, New Jersey, and Texas.

In January 2012, REG became a publicly traded company listed on the NASDAQ stock exchange.

REG is a North American biodiesel producer with a nationwide distribution and logistics system, converting natural fats, oils and greases into biodiesel and on converting diverse feedstocks into renewable chemicals with 257 million gallons of annual nameplate production capacity at biorefineries across the United States.

(BM/CZ)

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