Renewable Energy Group Expands Presence in Northeast with Another New Jersey Terminal
Agreement with Dutch Hill Terminals Gives Biodiesel Producer Its Sixth Distribution Point in the Region
Ames, Iowa-November 26, 2013- Biodiesel producer and marketer Renewable Energy Group®, Inc. (NASDAQ: REGI), announced today it has entered into an agreement with Dutch Hill Terminals, a leading heating oil terminal in New Jersey, to market biodiesel and biodiesel blended heating oil at its Clifton, New Jersey location.
“This terminal position will give us additional capacity to serve the existing markets in the Northeast and prepare for potential growth moving into 2014,” said Gary Haer, REG Vice President, Sales and Marketing. “As the region increases its consumption of biodiesel in transportation fuel and Bioheat® (heating oil blended with biodiesel) REG will continue to provide a reliable source of high quality, clean burning, advanced biofuel.”
REG Clifton is located at 568 Paulison and now has REG biodiesel blended heating oil available. The company will offer other high quality biodiesel blends for transportation fuel during seasonal periods from the Clifton terminal as well. REG has five other terminal locations in the Northeast, including Whippany and Bayonne, New Jersey and New York locations in New Hyde Park, Port Chester, Ontario and Brookhaven.
The New Jersey State Legislature is currently considering legislation which would require heating oil to contain a three percent biodiesel blend (B3), then increasing to five percent (B5). New York City has already implemented a city-wide requirement of B2 in heating oil and the New York State Legislature passed a bill which would phase in a B2 requirement state wide over two years beginning with the 2014-2015 heating oil season. As data presented by the City of New York shows, cleaner heating oil has had a profound impact on the air quality and health of the residents of the city.
“REG Clifton is a great addition to our biodiesel sales and distribution capabilities in the Northeast market,” said Dave Elsenbast, REG Vice President, Supply Chain. “This position allows us to further expand in the incentivized and growing biodiesel market.”
About Renewable Energy Group
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 257 million gallons of nameplate annual production capacity at biorefineries across the country, REG is a proven biodiesel partner in the distillate marketplace.
For more than 15 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.