LONG BEACH, Calif.--(BUSINESS WIRE)--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.
“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.