Pledges $20 Million Upgrade for 30-Million-Gallon Biorefinery
The Renewable Energy Group has formally re-opened the biodiesel plant in Iowa it bought from Soy Energy earlier this year, and this week announced a $20 million project to upgrade it to a multi-feedstock capability.
The upgrade will allow biodiesel to be made from such lower cost raw materials as inedible corn oil, used cooking oil, and animal fats, “with the majority coming from a close proximity to Mason City,” manufacturing VP Brad Albin said in a release.
“REG Mason City fits into our existing network of biodiesel plants very well and is an ideal location to bring in raw materials for biodiesel production, is a good distribution point, and is sited well to serve our customers and terminals,” said REG president and CEO Daniel Oh.
Eight Plants in All, 257 Million Gallons per Year
REG (NASDAQ: REGI) says that it now has eight active biorefineries in four states, with Mason City as the third in Iowa, joining the firm’s first refinery in Ralston, and a plant in Newton. The company has a multi-feedstock biorefinery in Albert Lea, Minn., where a $21 million multi-feedstock upgrade was recently completed.
REG also has refineries in Illinois and Texas respectively. Total annual production capacity is 257 million gallons.
REG re-commenced production at the Mason City plant on October 1.
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Source: Renewable Energy Group with Fleets & Fuels follow-up