Biodiesel producer and marketer Renewable Energy Group®, Inc. (NASDAQ:
REGI), announced Thursday it will offer biodiesel at the
International-Matex Tank Terminals (IMTT) in Bayonne, N.J. in New York
Harbor, one of the world's largest petroleum trading hubs. This new
location allows REG® to sell large volumes of biodiesel via barge or
truck.
"The Northeast has an active biodiesel market and this terminal position
allows us to provide more high quality REG-9000® biodiesel to better
serve this growing market," said Gary Haer, REG Vice President, Sales
and Marketing. "In conjunction with our five other terminal locations in
New York and New Jersey, we will be able to provide a reliable and
consistent supply of biodiesel to serve existing transportation fuel
applications and barge business as well as the growing Bioheat® (heating
oil blended with biodiesel) market in and around New York Harbor."
The New York State Legislature recently passed a B2 biodiesel
requirement in home heating oil. Once signed into law by the Governor,
it will require all heating oil for use in any building within Nassau,
Rockland, Suffolk and Westchester counties to contain at least two
percent biodiesel, effective October 1, 2014. On July 1, 2015, all
heating oil sold for use in any building statewide will meet this
standard. New York City already has a B2 biodiesel requirement for home
heating oil in place.
IMTT is a full service complex located at the junction of Kill van Kull
River and Upper New York Harbor, just 10 miles south of Manhattan.
"REG will grow our current biodiesel marketing capabilities by utilizing
IMTT's terminal with deep water access to multiple barge and ship
berths," said Dave Elsenbast, REG Vice President, Supply Chain
Management. "This is a major step in our strategy to grow volume in this
region of the country."
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 225 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 fifteen years, 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 and
reinforce food security. REG-9000 branded biodiesel is distributed in
most states in the U.S.
Bioheat is a registered trademark of National Biodiesel Board
REG-9000
is a registered trademark of Renewable Energy Group
Forward-Looking Statements 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 anticipated benefits of offering
biodiesel at IMTT. Actual results may vary materially due to a number of
factors 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
Anthony Hulen, 202-349-2546
anthony.hulen@regi.com