Renewable Energy Group

Now operating as Chevron Renewable Energy Group, the company is a subsidiary of Chevron Corporation following a noteworthy all-cash acquisition valued at $3.15 billion, completed on June 13, 2022. This strategic merger combined Renewable Energy Group's (REG) substantial renewable fuels production and feedstock capabilities with Chevron's extensive manufacturing, distribution, and marketing infrastructure. The company's origins trace back to 1996, when it began as the biodiesel division of West Central Cooperative in Iowa. It established itself as an independent corporation, Renewable Energy Group, Inc., in August 2006.

The business is centered on converting renewable resources, such as natural fats, oils, and greases, into high-quality, lower-carbon fuels. Its primary products are biodiesel and renewable diesel, which significantly reduce greenhouse gas emissions compared to petroleum diesel. The company serves a diverse client base across the transportation and energy sectors, including trucking fleets, fuel distributors, and customers in rail, marine, and heating oil markets who are seeking to lower their carbon footprint. Revenue is generated through the production and sale of these sustainable fuels and their by-products, including glycerin and renewable naphtha. A key operational strength is its global, integrated network for procurement, distribution, and logistics, which supports its 9 active biorefineries in the U.S. and Europe. This network allows for flexible feedstock sourcing, with a significant portion derived from waste and residual streams like used cooking oil.

Under the leadership of Cynthia (CJ) Warner, who served as President and CEO from 2019 until the 2022 acquisition, the company saw significant growth. Warner, a seasoned executive with over three decades of experience in both traditional and renewable energy sectors at firms like BP and Andeavor, was appointed to Chevron's Board of Directors post-acquisition. Her predecessor, Randy Howard, who served as interim CEO from 2017, brought extensive experience from his 33-year career at Unocal Corporation. The company's products, now marketed under brands like EnDura Fuels™, offer customers a drop-in solution to reduce emissions without requiring new infrastructure investments.

Keywords: renewable fuels, biodiesel, renewable diesel, Chevron Renewable Energy Group, bio-based diesel, sustainable fuels, lower-carbon solutions, feedstock sourcing, biorefinery, energy transition, advanced biofuels, carbon reduction, green energy, transportation fuels, waste-to-energy, sustainable aviation fuel, circular economy, renewable resources, used cooking oil feedstock, downstream energy