REG Closes TX Refinery
Renewable
Energy
Group, Inc.
announced
that it is
closing its
New Boston, TX, biorefinery. The
company states that the failure
of Congress to extend the federal
biodiesel tax credit is a factor in
the decision.
“This closure comes today as a result
of the poor economics over the
last 18 months resulting in large
part from the uncertainty surrounding
the Biodiesel Tax Credit,”
said Cynthia J. Warner, REG
President & CEO. “Despite significant
bipartisan support, Congress’
inaction on this value-added
incentive has led to unsustainable
market conditions.”
In 2012, REG acquired the refinery
with a capacity of 15-million gallons
of biodiesel annually.
“We truly appreciate all the efforts
of our team and those that support
our New Boston plant,” said Brad
Albin, VP of manufacturing. “They
significantly improved safety, demonstrated
capacity, yield, quality
and costs. However, these improvements
could not overcome the
unfavorable economics of the plant
relative to our other options for
ongoing focus and forward investment.”
Bioheat® Marketing Materials Available to Retailers
Through the generous support of the
National Biodiesel Board (NBB) and their
affiliated state soybean associations, a
series of dealer/consumer communication
tools are now available for retailers to
promote Bioheat®. “These materials
are designed for fuel dealers and customers to help elevate their
understanding of the virtues of low carbon liquid fuels—Bioheat®, blended
with ultra-low sulfur heating oil as a pathway towards a brighter future
for home heating,” said Paul Nazzaro, NBB’s petroleum liaison. These
materials are available at no cost (tinyurl.com/yxwpa3eh). However, the
costs associated with reproduction and distribution of these marketing
pieces must be covered by the retailer.
ICM/September/October 2019 27