Booster and Renewable Energy Group Enter Strategic Partnership to Offer Mobile Delivery of Sustainable Fuels

Rhea-AI Summary

Renewable Energy Group (REGI) has announced a groundbreaking partnership with Booster to offer mobile delivery of renewable fuels, including biodiesel and renewable diesel, initially targeting clients in California. This collaboration facilitates easier access to low-carbon fuels for fleets, enabling them to reduce fossil carbon emissions without significant infrastructure costs. REG will serve as the exclusive supplier of bio-based diesel to Booster, while also making an investment in the company. The service commenced in August 2021.

Positive

• REG becomes exclusive supplier of bio-based diesel to Booster.
• Investment in Booster aligns with REG's strategy for sustainability.
• Partnership enhances accessibility to low-carbon fuels through mobile delivery.

Negative

• None.

Renewable Energy Group Invests in Booster and Becomes an Exclusive Supplier of Renewable Fuels

AMES, Iowa--(BUSINESS WIRE)-- Booster, the tech-enabled energy delivery service, and Renewable Energy Group (REG) (NASDAQ:REGI), a leading producer and provider of lower carbon fuels, today announced a first-of-its-kind partnership to provide mobile delivery of renewable diesel, biodiesel and blended fuels to fleets. The service started in California in August and has the potential to grow nationally.

The Booster / REG collaboration makes low-carbon fuels more accessible to clients, with convenient mobile fueling services provided by Booster. As businesses and fleets look for more sustainable solutions, REG’s bio-based diesel is easy to adopt and immediately begins reducing fossil carbon emissions. Under the new partnership, REG UltraClean Blend™ and other renewable and biodiesel fuels will be delivered to customers via Booster’s proprietary trucks, last-mile technology platform and certified drivers.

"This new service will let companies seamlessly transition their fleets to much lower-emission fuels with no equipment or infrastructure costs," said Frank Mycroft, CEO and co-founder, Booster. "Our partnership with REG will provide fleet operators with an ‘easy button’ to solve their sustainability, energy reliability and operational efficiency needs. Combining Booster and REG capabilities also offers fleet managers the data and intelligence required to meet increasingly ambitious environmental standards and business optimization targets.”

As part of the partnership, REG will be an exclusive supplier of bio-based diesel to Booster, and has become an investor in the company. Booster will also be an exclusive mobile fueler to REG and will partner with REG to explore expansion opportunities together.

“This collaboration is a perfect match for us, bringing together two innovative, sustainable solutions and building on our downstream strategy to reach customers and provide a first-class experience,” said REG Senior Vice President, Sales & Marketing, Bob Kenyon. “The energy transition is happening and this is the right place and right time for customers to adopt bio-based diesel and immediately reduce emissions in an easy and efficient manner. Our investment in Booster solidifies our commitment to enabling consumers with the ability to access clean fuel choices.”

Enterprise Holdings is a customer of Booster, and the company’s venture capital arm, Enterprise Holdings Ventures, is a Booster investor. In addition, the company’s affiliate, Enterprise Fleet Management, partners with Booster to deliver fuel services to small-to-medium sized fleets.

“We applaud Booster and REG for expanding service to include diverse renewable products that help existing fleets reduce environmental impact and realize their sustainability goals. This innovation is an essential component to the important vehicle decisions fleet operators make,” said Brice Adamson, Executive Vice President, Enterprise Fleet Management.

The REG / Booster collaboration will initially focus on servicing fleet customers in California, starting with the San Francisco Bay Area and Orange County, with additional markets to follow.

For more information about the service and partnership, visit the Booster and REG websites.

About Renewable Energy Group, Inc.

Renewable Energy Group (REG) is leading the energy industry's transition to sustainability by converting renewable resources into high-quality, cleaner fuels. REG is an international producer of cleaner fuels and one of North America’s largest producers of advanced biodiesel. REG solutions are alternatives for petroleum diesel and produce significantly lower carbon emissions. REG utilizes an integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, REG produced 519 million gallons of cleaner fuel, delivering 4.2 million metric tons of carbon reduction. REG is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future. For more information, visit regi.com.

About Booster

Booster is a tech-enabled mobile energy delivery company providing a more sustainable fueling experience to fleets and consumers. The company’s proprietary mini-tankers deliver energy directly to fleet and consumer customers to help them save on costs and meet decarbonization goals. At the same time, Booster’s data insights help fleet managers optimize their businesses. Booster has raised more than $108 million in funding from firms such as Invus Opportunities, Conversion Capital, Enterprise Holdings Ventures, Madrona Venture Group, Maveron, Perot Jain, L.P., Total Carbon Neutrality Ventures and Vulcan Capital. For more information, visit boosterusa.com.

Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including statements regarding REG’s strategic growth plans, customer demand for low carbon fuels and the strategic partnership between REG and Booster. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the failure of REG and Booster to achieve the goals of their strategic partnership, customer’s desire for clean fuel options, and other risks and uncertainties described in REG’s annual report on Form 10-K for the year ended December 31, 2020 and subsequently filed Form 10-Q and other periodic filings with the Securities and Exchange Commission. All forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements based on new developments or changes in our expectations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211110005999/en/

Media Contact for Booster Fuels:

Jordan Valdés

jordan.valdes@trybooster.com

Media Contact for Renewable Energy Group:

Katie Stanley

katie.stanley@regi.com

Source: Renewable Energy Group, Inc.

FAQ

What is Renewable Energy Group's partnership with Booster about?

Renewable Energy Group (REGI) has partnered with Booster to provide mobile delivery of renewable fuels, enhancing accessibility to low-carbon options for fleets.

When did the REGI and Booster partnership start?

The partnership began mobile fuel delivery services in August 2021.

What fuels will REGI supply to Booster?

REGI will supply renewable diesel, biodiesel, and blended fuels to Booster.

Where will the services of REGI and Booster initially operate?

The services will initially focus on fleet customers in California, specifically the San Francisco Bay Area and Orange County.

Is Renewable Energy Group investing in Booster?

Yes, Renewable Energy Group has made an investment in Booster as part of their partnership.