Renewable Energy Group Inc : REG Announces Biodiesel Availability via Terminal Agreement near Long Beach, Calif.
08/07/2012| 03:20pm US/Eastern
Nation's largest biodiesel producer announces third terminal site in
Biodiesel producer and marketer, Renewable
Energy Group® (NASDAQ: REGI), today announced it will offer
wholesale biodiesel under a new agreement with Maxum Petroleum at its
Rancho Dominguez (California) terminal location outside of Long Beach.
Under the supply agreement, the terminal is expected to offer REG-9000®
biodiesel to petroleum jobbers or large fleets beginning mid-August. Maxum
Petroleum is one of the largest independent energy logistics
companies in North America and will operate the terminal.
Renewable Energy Group (REG) also recently announced biodiesel
availability at a terminal near Lebanon,
Ohio and at its own terminal in Clovis,
"This new terminal will help consumers in the Los Angeles region become
more energy independent, meet carbon reduction goals and improve air
quality with America's
Advanced Biofuel, biodiesel," said REG's Vice President, Sales &
Marketing, Gary Haer. "Biodiesel is a sustainable, drop-in fuel for
diesel applications and a lower carbon fuel for a state which consumed
more than 3.5 billion gallons of distillate fuel in 2010, according to
the EIA. Renewable Energy Group is proud to offer high quality biodiesel
to help enhance energy security and lower greenhouse gas emissions
across southern California."
Haer noted the new relationship with Maxum Petroleum would benefit new
California customers. "We have confidence in the team at Maxum to
quickly and efficiently process orders and load trucks to make biodiesel
blending an easy step for any diesel distributor in the area," he added.
To learn more about the facility, create an account with Maxum Petroleum
and REG or receive biodiesel pricing please visit http://www.regi.com/longbeach
Biodiesel is a drop-in, advanced biofuel for use in any diesel engine
application. REG-9000® branded biodiesel is produced from
natural oils, fats and greases and meets or exceeds ASTM quality
specifications for biodiesel.
Renewable Energy Group® is a leading North
American biodiesel producer with a nationwide distribution and logistics
system. Utilizing an integrated value chain model, Renewable Energy
Group is focused on converting natural fats, oils and greases into
advanced biofuels. With more than 210 million gallons of owned/operated
annual production capacity at biorefineries across the country, REG is a
proven biodiesel partner in the distillate marketplace.
For more than a decade, REG has been a reliable supplier of biodiesel
which meets or exceeds ASTM quality specifications. We sell REG-9000®
biodiesel to distributors so Americans can have cleaner burning fuels
that help lessen our dependence on foreign oil. REG-9000® branded
biodiesel is distributed in nearly every state in the U.S.
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934, including statements about the
Rancho Dominguez terminal's commencement date. Actual results may vary
materially due to a number of factors including, but not limited to, the
risk of a loss or reduction of governmental requirements for the use of
biofuel, a decrease in the spread between biodiesel prices and feedstock
costs, loss or reduction of tax incentives for biodiesel production or
consumption, as well as other risks that are detailed from time to time
in REG's SEC reports. REG is under no obligation to (and expressly
disclaims any such obligation to) update or alter its forward-looking
statements whether as a result of new information, future events or
otherwise. Information contained in our website is not incorporated by
reference in, or made part of this press release.
Renewable Energy Group
© Business Wire 2012