Renewable Energy Group, Inc. (NASDAQ:REGI) President and CEO Daniel J.
Oh issued the following statement after the EPA’s release of the
proposed rule for Renewable Volume Obligations (RVO) that calls for 2.1
billion gallons of biomass-based diesel for 2018 and 4.0 billion ethanol
equivalent gallons of overall advanced biofuels for 2017:
“We are pleased that EPA has again proposed continued growth of
biomass-based diesel and overall advanced biofuel volumes. This proposal
provides greater certainty in the marketplace, reflects the expanding
usage and blend levels consumers want, and points towards continuing
growth for the cleaner, lower carbon intensity fuel we produce.”
“We are very appreciative of the advanced biofuel advocates within the
Administration and on Capitol Hill for their consistent support. We will
continue to work alongside our industry partners to provide the EPA, OMB
and other federal agencies additional market data that will support
additional growth in the D4 (biomass-based diesel) and D5 (general
advanced biofuel) categories, as we believe that there is a compelling
basis for further increases over time.”
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.
Note Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995, as
amended, including statements regarding an increasing RVO based on the
proposed rules announced today, possible future increases in the RVO and
possible growth in the Company’s business resulting from the proposed
RVO. These forward-looking statements are based on current expectations,
estimates, assumptions and projections that are subject to change, and
actual results may differ materially from the forward-looking
statements. Factors that could cause actual results to differ materially
include, but are not limited to: that the proposed RVO announced today
is not final and could be changed when the final rules are adopted;
other potential changes in governmental programs and policies requiring
or encouraging the use of biofuels, including RFS2; the future price and
volatility of feedstocks; the effect of excess capacity in the
biomass-based diesel industry; unanticipated changes in the
biomass-based diesel market from which we generate almost all of our
revenues; and other risks and uncertainties described in REG's quarterly
report on Form 10-Q for the quarter ended March 31, 2016, which is on
file with the Securities and Exchange Commission. All forward-looking
statements are made as of the date of this press release and REG does
not undertake to update any forward-looking statements based on new
developments or changes in our expectations.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160518006410/en/
Copyright Business Wire 2016
Source: Business Wire
(May 18, 2016 - 4:05 PM EDT)
News by QuoteMedia
www.quotemedia.com