[Biodiesel News] Iowa biodiesel company announces historic expansion

Iowa biodiesel company announces historic expansion

Biodiesel Magazine - Grand Forks,ND,USA

One of the industry’s pioneer biodiesel producers has announced a company makeover and the largest planned biodiesel expansion in the history of the industry ...

 

One of the industry’s pioneer biodiesel producers has announced a company makeover and the largest planned biodiesel expansion in the history of the industry. In August, Renewable Energy Group Inc. (REG) announced the completion of a $100 million private equity financing and two new strategic partnerships. The company has said its overall biodiesel production will reach approximately 640 million gallons by 2009, including third-party plants.

 

Recently, Iowa-based West Central combined all of its biodiesel-related products and services under REG. Although West Central still operates as a farmer-owned cooperative in Ralston, Iowa, as of Aug. 1 all biodiesel-related activities at the company moved under the umbrella of REG. REG is comprised of a network of wholly owned and third-party managed biodiesel plants. It will use the new capital and strategic partnerships to expand this network. Its strategic partners, Bunge and ED&F Man Holdings Ltd., will aid REG and its third-party partners in securing an efficient and consistent supply of raw materials, as well as offer advantages in site locations, risk management and logistics expertise.

 

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Posted by Vince to Biodiesel News at 9/18/2006 10:22:00 AM