In Iowa, Renewable Energy Group reported that it achieved the second billion gallon milestone this past January, just 33 months after hitting the 1 billion gallon milestone in 2014.
An important part of REG’s sales growth and significant cash flow generation is the successful operation at full production capacity at REG Geismar, the company’s 75 MMgy renewable hydrocarbon diesel biorefinery in Geismar, Louisiana. Following two incidents in 2015, REG made repairs and process improvements at the biorefinery including added feedstock and finished fuel storage and significant proprietary pretreatment capabilities. With those improvements online, the Geismar plant has run continuously at or above 100 percent nameplate capacity since early October 2016.
REG also announced it has completed the acquisition of Petrotec, the leading used cooking oil to biodiesel producer in Continental Europe. The acquisition brings to REG an excellent team, two waste-based biodiesel plants (Emden and Oeding, Germany) and Vital Fettrecycling, a used cooking oil collection business. These assets are already operating in an integrated manner within REG’s network and team. This expansion into Europe increases REG’s worldwide nameplate capacity to more than 500 million gallons annually and establishes a position for international trade and further growth opportunities.
