Last year marked another pivotal year for the Renewable Energy Group business. Early in the year, the company acquired two fuel distribution companies based in California.
The business saw great progress with their improvement and expansion project at the Geismar, Los Angeles renewable diesel biorefinery, and the lower carbon feedstock expansion project in Emden, Germany.
Maybe, most notably, Renewable Energy Group was acquired in June last year by Chevron. Through all this change and growth, the business continued to advance the future of the biofuels industry.
As we welcome 2023, we anticipate some trends that could influence growth of the biofuels sector. Our outlook for this year is bright, and we believe that biofuels will play a critical role as the energy transition to lower carbon continues.
Outlook for the year ahead
To start, the last several years have shown immense growth in both public and private entities committing to net-zero emissions goals.
As of June 2022, 29 states in the US have released climate action plans, along with four more states progressing their development.1
Along with this, more...
Popular News Stories
LATEST VIDEOSLead the way beyond fossils with advanced biofuels by UPM Biofuels
BDI's statement against ReFuelEU