Renewable Energy Group, Inc. Issues Update on REG Geismar

Rhea-AI Summary

Renewable Energy Group (NASDAQ:REGI) announced that its Geismar, Louisiana renewable diesel plant has resumed normal operations post-Hurricane Ida. President and CEO Cynthia Warner expressed gratitude for the safety of employees and the team's efforts to restart the facility. REGI is a leader in sustainable fuels, having produced 519 million gallons of cleaner fuel in 2020, resulting in a significant carbon reduction. Forward-looking statements indicate potential risks, including undiscovered facility damages and supply volatility.

Positive

• Geismar renewable diesel plant has resumed normal operations after Hurricane Ida.
• REGI produced 519 million gallons of cleaner fuel in 2020, contributing to 4.2 million metric tons of carbon reduction.

Negative

• Potential undiscovered damage to the Geismar facility may affect operations.
• Risks from supply volatility and reliance on third-party utilities could impact profitability.

AMES, Iowa--(BUSINESS WIRE)-- Renewable Energy Group, Inc. (Nasdaq:REGI) is issuing the following statement from President and CEO, Cynthia ‘CJ’ Warner regarding the status of its renewable diesel plant located in Geismar, Louisiana following Hurricane Ida:

“I am pleased to report that the REG Geismar renewable diesel plant has returned to normal operations following the impact of Hurricane Ida. We are grateful that our employees, contractors and partners were able to remain safe throughout, and for their dedicated efforts that enabled us to restart the plant in a safe and controlled manner.”

About Renewable Energy Group

Renewable Energy Group, Inc. is leading the energy and transportation industries’ transition to sustainability by transforming renewable resources into high-quality, sustainable fuels. Renewable Energy Group is an international producer of sustainable fuels that significantly lower greenhouse gas emissions to immediately reduce carbon impact. Renewable Energy Group utilizes a global integrated procurement, distribution and logistics network to operate 12 biorefineries in the U.S. and Europe. In 2020, Renewable Energy Group produced 519 million gallons of cleaner fuel delivering 4.2 million metric tons of carbon reduction. Renewable Energy Group is meeting the growing global demand for lower-carbon fuels and leading the way to a more sustainable future.

Note Regarding 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 restarting production at our Geismar facility. 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, damage to the Geismar facility that may be discovered after the startup process, the availability of utilities, including hydrogen and steam, and the continuation of supply, from third parties that have not yet resumed operations following the storm, the availability, future price, and volatility of the utilities and feedstocks; the availability, future price and volatility of petroleum and products derived from petroleum; risks associated with fire, explosions, leaks, and weather related events and other natural disasters at our facilities; any disruption of operations at the Geismar renewable diesel refinery (which would have a disproportionately adverse effect on our profitability, including our proposed capacity expansion thereto 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.

All forward-looking statements are made as of the date of this presentation 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/20210913005853/en/

Katie Stanley

515-239-8184

katie.stanley@regi.com

Source: Renewable Energy Group, Inc.

FAQ

What is the current status of REGI's Geismar plant after Hurricane Ida?

The Geismar plant has resumed normal operations following Hurricane Ida.

How much fuel did Renewable Energy Group produce in 2020?

Renewable Energy Group produced 519 million gallons of cleaner fuel in 2020.

What are the risks mentioned in REGI's press release?

The risks include potential undiscovered damages to the Geismar facility and supply volatility from third-party utilities.

What impact did REGI's Geismar plant have on carbon emissions?

In 2020, REGI's operations contributed to a reduction of 4.2 million metric tons of carbon emissions.