Forward-Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may vary materially due to a number of factors including, but not limited to, the risk of a loss or reduction of governmental requirements for the use of biofuel, a decrease in the spread between biodiesel prices and feedstock costs, loss or reduction of tax incentives for biodiesel production or consumption, as well as other risks that are detailed from time to time in REG’s SEC reports. REG is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Information contained in our website is not incorporated by reference in, or made part of this press release.
Renewable Energy Group® applauded today’s announcement by the EPA that the 2013 Renewable Fuels Standard (RFS2) renewable volume obligation will grow to 1.28 billion gallons. “This announcement offers certainty throughout the biodiesel supply chain, will grow green collar jobs and enhances our nation’s energy independence,” said Renewable Energy Group’s President & CEO, Daniel J. Oh. “We applaud and thank President Obama and his administration, including Secretary Vilsack and EPA Administrator Jackson and her team, for their public support and due diligence in working with the biodiesel industry to implement these sustainable growth numbers. They have reaffirmed that RFS2 is working as intended for biodiesel and that it will continue to do so,” Oh said. Since implementation of the biodiesel requirements under RFS2 in 2010, the U.S. biodiesel industry has a proven track record for supplying petroleum refiners and distributors with large volumes of quality advanced biofuel. “We believe the biodiesel industry, and REG specifically, are positioned to utilize the waste, by-products and recycled fats and oils from American agriculture and food production to meet the 2013 RFS2 number,” Oh said. Renewable Energy Group ® is a leading North American biodiesel producer with a nationwide distribution and logistics system. Utilizing an integrated value chain model, Renewable Energy Group is focused on converting natural fats, oils and greases into advanced biofuels. With more than 210 million gallons of owned/operated annual production capacity at biorefineries across the country, REG is a proven biodiesel partner in the distillate marketplace. For more than a decade, REG has been a reliable supplier of biodiesel which meets or exceeds ASTM quality specifications. We sell REG-9000® biodiesel to distributors so Americans can have cleaner burning fuels that help lessen our dependence on foreign oil. REG-9000® branded biodiesel is distributed in nearly every state in the U.S.