NOTE: A video news release of the event is available here.
(ABERDEEN, WA)---Renewable Energy Group, Inc. (NASDAQ: REGI) celebrated the formal opening of the newest addition to its fleet of biomass-based diesel refineries Monday afternoon with a ribbon cutting at REG Grays Harbor, LLC.
REG leaders were joined by state and local business, government and community leaders for the ceremony marking the transition to REG’s ownership of the former Imperium Grays Harbor 100-million gallon nameplate capacity biodiesel production and terminal facility.
“REG Grays Harbor’s addition to REG is a significant milestone for our company,” said Daniel J. Oh, President and CEO, noting that the plant is the Company’s 11th, and now largest, biorefinery and its first west coast production facility. “The transition has been seamless thanks to the dedicated employees here and to other teams within our company.”
Oh also thanked local government leaders in Hoquiam and Aberdeen for working with the Company during the transition and praised the work of Washington’s congressional delegation and Governor Jay Inslee for being champions of advanced biofuels.
Gary Haer, Vice President, Sales and Marketing, told the crowd that production at the Grays Harbor biorefinery will aid REG’s efforts to grow biodiesel sales along the west coast region. “We can now serve customers and expand sales of high quality REG-9000™ fuel in Washington, Oregon, western Canada as well as increase sales throughout California to meet LCFS demand,” Haer said. “And with the multi-modal capabilities at the terminal and port, we increase our flexibility to fulfill orders via the use of truckload, rail car, or Panamax class tanker shipments.”
Local leaders welcomed REG to the area business community. “Today marks the beginning of an exciting new chapter for biodiesel production in Grays Harbor,” said Dru Garson, CEO of Greater Grays Harbor, Inc. “We’re excited by the prospects of having REG as a community partner, as their track record of operating plants and re-investing in the community is impressive.”
In addition to its production capacity, REG Grays Harbor has 18 million gallons of on-site storage and a terminal that can accommodate feedstock intake and fuel shipments by truck, rail and deep-water vessel. The plant employs 39 full-time employees.
About Renewable Energy Group
Renewable Energy Group, Inc. is a leading North American advanced biofuels producer and a 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 11 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 atwww.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 the anticipated capabilities and benefits of REG Grays Harbor’s facility. 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 REG’s ability to integrate Imperium’s business with its own; whether REG Grays Harbor would be able to produce biodiesel profitably; changes or events affecting the business, financial condition or results of operations of REG; and other risks and uncertainties described from time to time in REG's quarterly reports on Forms 10-Q for the period ended June 30, 2015, annual report on Form 10-K for the year ended December 31, 2014 and other periodic filings 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.