| |
spa resorts for sale overseas
News and Information Article
RALSTON, Iowa, Aug. 16 // -- Renewable Energy Group, Inc.
(REG) is pleased to announce the successful completion of $100 million
financing and two new strategic partnerships. NGP Energy Technology
Partners, L.P., an affiliate of NGP Energy Capital Management, led the
Series A preferred stock financing. Strategic partners, Bunge North America
and E D & F Man Holdings Ltd., also invested in the Series A financing. In
addition, Natural Gas Partners VIII, L.P., the Sargents, West Central
Cooperative, and other Iowa investors participated in the REG financing.
The $100 million financing is one of the largest investments in biodiesel
in North America.
REG will use the new capital and strategic partnerships to expand its
network of wholly-owned and third-party managed biodiesel plants. REG
expects to increase its biodiesel production to approximately 640 million
gallons by 2009, including third-party plants.
Viant Group, a San Francisco-based boutique investment bank, advised
REG in the transaction.
Renewable Energy Group, Inc. Continues Leadership in Biodiesel Industry
REG was formed through the combination of West Centrals biodiesel
business and REG, LLCs biodiesel plant construction business, and has
produced and sold biodiesel for more than ten years through its predecessor
companies. REG is the biodiesel industry leader of B100 sales and is the
only full-service biodiesel company offering plant management, risk
management, raw material procurement, plant construction, biodiesel
production, and biodiesel sales and marketing services. All planned
facilities will utilize patented continuous-flow biodiesel production
technology featuring water recycling and methanol recovery and be BQ-9000
Accredited. REG serves hundreds of customers including on-highway fleets,
original equipment manufacturers, maritime, military, home heating and
agriculture industries.
"With the completion of this financing, REG becomes the first
independent, biodiesel platform company offering a comprehensive set of
management, procurement, marketing and construction services, and the
expertise to present outstanding leadership in the biodiesel industry,"
explained REG Chairman and CEO Jeff Stroburg. "Renewable Energy Group is
proud to partner with such outstanding investors who, together, will help
us create a nation less dependent on foreign petroleum."
Increased Raw Material Supply and Distribution to Meet Growing Demand
for Biodiesel
Bunge North America and E D & F Man Holdings Ltd. selected REG as a
strategic partner in the biodiesel industry and elected to invest in the
company. These partnerships provide a dedicated supply of various raw
materials, site locations, and risk management and logistics expertise and
enable growth in biodiesel production capacity to volumes necessary to meet
the consumption demands of large customers nationwide.
More than 80 percent of the production cost of biodiesel occurs in the
procurement and transportation of feedstock to the biodiesel production
plant itself. With Bunge, the largest oilseed processor in the world, and
with E D & F Man Holdings Ltd., a major trader of fats and oils such as
palm oil and tallow/yellow grease, REG expands its transportation and
distribution network both domestically and globally.
"As Renewable Energy Group grows, these agreements provide us an
opportunity to meet the needs of current and future customers on a larger
scale than ever before with greater economies of scale," explained
Stroburg. "Producing high quality biodiesel is only the first step; getting
biodiesel to our customers when and where they need it is a key factor in
creating a successful distribution channel." Facilitating further
production and transportation efficiencies, REG intends to co-locate
several biodiesel production facilities with Bunge North America oilseed
processing facilities.
Far-reaching Impact of the Agreement
This agreement continues REGs leading position in the biodiesel
industry. The investment and partnerships will allow REG, Inc. to create
496 jobs by 2010 in its network of plants nationwide. In the state of Iowa,
REG will increase its current staff of 52 employees to 82 by 2009.
"We are very excited to continue as a leader in the biodiesel industry
through these strategic partnerships and investments," adds Stroburg. "As
we continue to invest in our supply and distribution network, we anticipate
not only job creation, but the ability to affect positive environmental
change through greater adoption of biodiesel."
To learn more about Renewable Energy Group, Inc. or access an online
media kit, please visit http://www.renewable-energy-group.com
| |
|
|
 |
spa resorts for sale overseas |
|
|
|
|
|
|
|
|
|
Locations
