Renewable Energy Group Enters Petroleum Distribution with REG Energy Services, LLC
New Division to Sell Heating Oil, ULSD, and Biofuel Blends
(AMES, IOWA) February 12, 2014 – Renewable Energy Group, Inc. ® (NASDAQ: REGI) announced today it has launched a new division that will sell petroleum-based heating oil and diesel fuel, and enable the company to offer more biofuel blends.
REG Energy Services, LLC will sell heating oil and ultra-low sulfur diesel (ULSD) at seven terminals throughout the northeastern U.S. as well as BioHeat® blended heating fuel at an existing REG terminal location.
“REG Energy Services complements our advanced biofuel business as we optimize and grow our fully integrated biodiesel business across North America,” said REG President and CEO, Daniel J. Oh. “It allows us to offer more products to our customers, including more biofuel blends, while also expanding our customer base.”
The new company will be regionally headquartered in Portsmouth, New Hampshire and led by Barry Knox, a long-time downstream petroleum distribution specialist. Before joining REG, Knox served the last 14 years as Chief Operating Officer at Total Energy Solutions, LLC. Knox just completed his term as a board member of the New England Fuel Institute (NEFI), and the Massachusetts Energy Marketers Association (formerly MOC), and was also a board member of the National Oilheat Research Alliance (NORA).
REG Energy Services is now marketing heating oil and ULSD at Citgo terminals in Albany, NY (Citgo/Glenmont), South Portland, ME, and Braintree, MA; at Motiva terminals in Providence, RI, New Haven, CT and Newark, NJ, as well as the Sun Logistics terminal in Newark. BioHeat® blended heating fuel in blends up to B20 is also available from REG’s location at the Clifton, NJ Dutch Hill terminal.
"REG Energy Services expands our fuel portfolio in the New England market where we can now offer heating oil, ULSD, and biodiesel fuel blends in addition to REG-9000® biodiesel. This will further enhance REG's ability to meet customer needs for biodiesel blended fuel," said Gary Haer, REG Vice President, Sales and Marketing.
The offices of REG Energy Services, LLC are located at 15 Rye Street, Suite 312, Portsmouth. Customers interested in purchasing product can contact REG Sales at 888-REG (734)-8686 or by e-mailing Barry Knox at Barry.Knox@regi.com or Paul Predaris at Paul.Predaris@regi.com.
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 and on converting diverse feedstocks into renewable chemicals. With 257 million gallons of annual nameplate production capacity at biorefineries across the country, REG is a proven biodiesel partner in the distillate marketplace.
For more than a decade, REG has been a reliable supplier of biodiesel which meets or exceeds ASTM quality specifications. REG sells REG-9000® biodiesel to distributors so Americans can have cleaner burning fuels that help diversify the energy complex and increase energy security. REG-9000® branded biodiesel is distributed in most states in the U.S.