AMES, Iowa--(BUSINESS WIRE)--Renewable Energy Group, Inc. (NASDAQ:REGI) President and CEO Daniel J. Oh issued the following statement after U.S. House and Senate passage of tax extenders legislation which contained a retroactive reinstatement of the $1 per gallon biodiesel mixture excise tax credit from January 1, 2015 through December 31, 2016:
“We at REG are pleased and thankful that Congress has approved a retroactive reinstatement and extension of the biodiesel tax credit. With the President’s signature, this worthwhile incentive, combined with higher RFS2 biomass-based diesel volumes, will reinforce our company’s continuing growth by encouraging higher blends and usage of advanced biofuels throughout North America. It provides multiple benefits through enhancing our environment, energy and food security and local economies.”
“We owe a large debt of gratitude to our bi-partisan congressional champions, in particular Senator Charles Grassley and Senator Maria Cantwell. Their commitment to our industry has been constant and unwavering. We will continue to work with them and our industry partners to advocate for a conversion to a producer’s tax credit in the future because we believe that is how this credit should be structured.”
About Renewable Energy Group
Renewable Energy Group, Inc. is a leading North American advanced biofuels producer and developer of renewable chemicals. REG utilizes a nationwide production, distribution and logistics system as part of an integrated value chain model to focus on converting natural fats, oils and greases into advanced biofuels and converting diverse feedstocks into renewable chemicals. With 11 active biorefineries across the country, research and development capabilities and a diverse and growing intellectual property portfolio, REG is committed to being a long-term leader in bio-based fuels and chemicals.
For more than a decade, REG has been a reliable supplier of advanced biofuels which meet or exceed ASTM quality specifications. REG sells REG-9000™ biomass-based diesel to distributors so consumers can have cleaner burning fuels that help diversify the energy complex and increase energy security. REG-9000™ biomass-based diesel is distributed in most states in the US. REG also markets ultra-low sulfur diesel and heating oil in the northeastern and midwestern US. For more information on REG visit our website at www.regi.com.
