Darling Ingred - DAR STOCK NEWS

EnviroFlight, a division of Darling Ingredients (NYSE: DAR), announces the establishment of a new R&D and Corporate Center in Apex, North Carolina, to enhance research on black soldier fly larvae. Groundbreaking is set for April 2021, with operations expected to commence in early 2022. This facility will facilitate advancements in animal health, nutrition, and product development, reinforcing EnviroFlight's position as a leader in sustainable insect ingredients in the U.S. The initiative aims to provide eco-friendly solutions in the global animal feed industry.

Darling Ingredients Inc. (NYSE:DAR) announced that its joint venture with Valero Energy, Diamond Green Diesel (DGD), secured a $400 million senior, unsecured revolving credit facility. This facility, arranged by CoBank ACB, matures on March 30, 2024 and is non-recourse to the partners. Funds will support general corporate purposes. DGD, North America's largest renewable diesel producer, currently produces 290 million gallons annually, with plans to expand to 1.2 billion gallons by 2023, significantly reducing greenhouse gas emissions.

Darling Ingredients Inc. (NYSE: DAR) announced its participation in the Virtual Roth Conference on March 17, 2021, at 9:30 a.m. ET. The event will feature a virtual fireside chat with Randall C. Stuewe, Chairman and CEO, alongside Brad Phillips, CFO. Investors can access the webcast through the Investor Relations section of the Darling Ingredients website.

Darling is a leading producer of sustainable organic ingredients and renewable energy, operating globally to convert agri-food waste into valuable products.

Darling Ingredients reported a fourth quarter 2020 net income of $44.7 million, or $0.27 per diluted share, and adjusted net income of $75.3 million ($0.45/share) after excluding a $30.6 million restructuring charge. Total net sales reached $1.0 billion, up from $859.4 million in Q4 2019. For FY 2020, net income was $296.8 million ($1.78/share) on net sales of $3.6 billion. The company recorded a combined adjusted EBITDA of $214.5 million for Q4 and $841.5 million for FY 2020. Operations of two biodiesel plants were shut down, reallocating resources towards renewable diesel production.

Darling Ingredients Inc. (NYSE: DAR) will host a conference call on March 3, 2021, at 9:00 a.m. ET to discuss its fourth quarter and fiscal year 2020 financial results. CEO Randall Stuewe and CFO Brad Phillips will lead the discussion, followed by a slide presentation available on the investor relations section of their website. An official press release will be released on March 2, 2021, post-market close. Participants can register in advance or dial-in directly. A replay will be accessible until March 10, 2021.

Darling Ingredients Inc. (NYSE: DAR) announced the passing of longtime board member Charles Macaluso on February 22, 2021. Macaluso joined the board in 2002 and was instrumental in the company's growth. He served as Lead Director and Chairman of the Nominating and Corporate Governance Committee. Randall C. Stuewe, CEO, expressed gratitude for Macaluso's contributions and extended condolences to his family. Macaluso had over 20 years of experience as a Principal at Dorchester Capital, LLC, and served on the boards of various public companies.

Darling Ingredients (NYSE: DAR) announced its Rousselot Biomedical brand is participating in the ENLIGHT project, aimed at developing a 3D living model of pancreatic tissue to improve diabetes medication testing. The project, involving eight European partners, has secured a €3.6 million grant from the European Innovation Council under Horizon 2020. Rousselot will utilize its X-Pure® biomaterials for bioprinting, potentially accelerating drug discovery while minimizing animal testing. The initiative hopes to create a functional pancreatic model within four years, contributing to advancements in regenerative medicine.

Darling Ingredients and Valero Energy have received board approval to construct a new renewable diesel facility via their joint venture, Diamond Green Diesel (DGD), at Valero's Port Arthur refinery in Texas. This facility will produce 470 million gallons of renewable diesel annually, set to commence operations in late 2023. Combining this with the existing Norco facility’s capacity, DGD’s total output will reach approximately 1.2 billion gallons. The estimated construction cost is $1.45 billion, shared equally between the partners and funded by internal cash flows.

Darling Ingredients Inc. (NYSE: DAR) announced the launch of Peptan® Marine collagen peptides at the Beauty & Skincare Formulation Conference 2021. This product, sourced from 100% wild-caught marine white fish and certified by the Marine Stewardship Council (MSC), meets rising consumer demand for sustainable beauty and dietary supplements. Peptan® Marine adheres to EU and US regulations and offers traceability, making it appealing to conscientious consumers. The product aims to enhance brands' offerings in the nutricosmetics market, catering to specific dietary needs and preferences.