Phillips 66 and Renewable Energy Group Announce Plans for Large-Scale Renewable Diesel Facility on West Coast
Proposed project would produce renewable fuels in
The plant would utilize REG’s proprietary BioSynfining® technology for the production of renewable diesel fuel. Planned feedstocks include a mix of waste fats, oils and greases, including regionally-sourced vegetable oils, animal fats and used cooking oil.
“REG is excited to be working with a leading refiner, Phillips 66, on a project that has the potential to significantly expand biofuel production in
The new facility would be constructed adjacent to the Phillips 66 Ferndale Refinery in
“The proposed facility’s strategic location in
This announcement follows more than a year of collaboration between Phillips 66 and REG related to site selection and preliminary engineering. The companies expect to make a final investment decision in 2019. If approved, production at the new facility is currently premised to start in 2021.
REG owns and operates 13 biomass-based diesel refineries, with a combined effective production capacity of 565 million gallons per year. This includes REG Geismar, a 75-million-gallon nameplate capacity plant located in
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally.
About Renewable Energy Group
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This news release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Words and phrases such as “is anticipated,” “is estimated,” “is expected,” “is planned,” “is scheduled,” “is targeted,” “believes,” “continues,” “intends,” “will,” “would,” “objectives,” “goals,” “projects,” “efforts,” “strategies” and similar expressions are used to identify such forward-looking statements. However, the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements relating to
Source: Renewable Energy Group, Inc.