Welcome to our dedicated page for Renewable Energy Group news (Ticker: REGI), a resource for investors and traders seeking the latest updates and insights on Renewable Energy Group stock.
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Rayonier Advanced Materials Inc. (NYSE: RYAM) has elected Eric M. Bowen to its Board of Directors, effective September 9, 2024. Bowen brings over 20 years of experience in the biofuels industry, with expertise in energy transition and renewable products. He previously served as General Counsel, Corporate Secretary, and Vice President of Strategy at Renewable Energy Group, Inc. (REGI) until its sale to Chevron in 2022. Bowen was instrumental in growing REGI's renewable diesel business and positioning the company in decarbonization markets. His background includes founding Tellurian Biodiesel, Inc., and serving on various boards, including Forge Hydrocarbons and Hydrogen Works. Bowen holds a J.D. from UC Berkeley and a B.A. from the University of Oregon Honors College.
Chevron Corporation (NYSE: CVX) has completed its acquisition of Renewable Energy Group, Inc. (NASDAQ: REGI) following stockholder approval. This merger is designed to position Chevron as a leading renewable fuels company in the U.S., offering a range of low-carbon solutions to customers. Cynthia “CJ” Warner, ex-CEO of REG, joins Chevron's Board, bringing valuable expertise. The acquisition aims to enhance Chevron's capabilities in both traditional and renewable energy sectors, thereby expanding its market share and product offerings.
Chevron Corporation (NYSE: CVX) outlined its business plans at the annual stockholders meeting, emphasizing a focus on higher returns and lower carbon emissions. CEO Michael Wirth stated the company aims to lead in lower carbon intensity energy by leveraging its capabilities. Chevron completed its integration of Noble Energy and formed Chevron New Energies. The company is targeting a 10% increase in U.S. oil and gas production and plans over 50% capital spending growth compared to 2021. Chevron's acquisition of Renewable Energy Group, Inc. (NASDAQ: REGI) is expected to finalize mid-year.
Renewable Energy Group (REGI) has formed strategic alliances with CFN and Pacific Pride, enhancing access to bio-based diesel through expansive cardlock fueling networks across North America. This collaboration aims to promote cleaner fuel adoption, offering REG’s UltraClean BlenD™ and EnDura Fuels™ to a wider customer base. The partnership is projected to open new opportunities for REG, focusing initially on West Coast cardlocks. In 2021, REG produced 480 million gallons of sustainable fuels, achieving a carbon reduction of 4.1 million metric tons.
Renewable Energy Group (REG) has announced that its stockholders approved the Merger Agreement with Chevron, with over 80% voting in favor during the meeting on May 17. This acquisition aims to position REG as a leading player in sustainable fuel production. The Merger is anticipated to close mid-2022, pending regulatory approvals. CEO CJ Warner expressed confidence in the continuation of sustainable fuel delivery post-merger. REG produced 480 million gallons of cleaner fuel in 2021, significantly contributing to carbon reduction efforts.
Renewable Energy Group (REG) announced Q1 2022 results with revenues soaring to $936 million, driven by 157 million gallons of fuel sold and higher selling prices. However, net income available to common stockholders fell to $12 million or $0.25 per diluted share, down from $39 million in Q1 2021, partly due to a $64 million risk management loss. Adjusted EBITDA also decreased to $40 million. Post-quarter, REG completed the Geismar turnaround and acquired Dawson Oil Company, boosting its distribution capabilities.
Renewable Energy Group (REG) has announced its acquisition of Dawson Oil Company, a bulk fuel distributor located in Northern California. This strategic acquisition adds approximately 24 million gallons of fuel sales annually to REG's portfolio and enhances its position in the low-carbon fuel market. Dawson Oil operates six cardlocks, serving nearly 4,500 customers. REG aims to expand its sustainable fuel offerings, including EnDura Fuels™, to a wide range of end users. This acquisition aligns with California's transition to cleaner fuels.
Renewable Energy Group (NASDAQ:REGI) will release its Q1 2022 financial results on May 4, 2022, after market close. The report and Form 10-Q will be accessible on the company's website. Renewable Energy Group specializes in converting renewable resources into sustainable fuels, aiming to reduce greenhouse gas emissions. In 2021, the company produced 480 million gallons of fuel, achieving a 4.1 million metric ton reduction in carbon emissions. This positions REGI favorably within the growing market demand for lower-carbon fuels.
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