Bunker Holding Group, the world’s largest supplier and trader of marine fuels, has announced that it has entered into a strategic global collaboration agreement with a leading global producer and supplier of renewable fuels to further develop the United States (US) and European Union (EU) marine markets for sustainable bio-based diesel.
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Bunker Holding is the largest company in the USTC Group that holds a portfolio of activities such as oil and energy, shipping and logistics, ship owning, risk management, car activities, and IT.
By partnering with US-headed Renewable Energy Group Inc., REG’s expertise in bio-based diesel – both biodiesel, and renewable diesel (HVO) – with Bunker Holding’s global reach will allow the companies to play a critical role in transitioning the shipping industry to new and more sustainable energy sources.
This collaboration agreement is initially focused on opportunities in North America and Europe, where trials of B20 and B30 are being run in high-traffic regions of both continents.
Tap into the global marine market
For REG, this agreement continues its efforts to expand product offerings with further reach into the approximately 70 billion (US) gallon, or 230 million tonnes, global marine market and is a clear signal of the company’s mission to enable a cleaner world and reduce greenhouse gas (GHG) emissions.
At Renewable Energy Group we see clearly the opportunity for biodiesel to be a sustainable fuel option of choice for customers in the clean energy transition. Partnering with Bunker Holding will accelerate the marine industry’s adoption of biodiesel to achieve aggressive carbon reduction goals, said Bob Kenyon, SVP, Sales, and Marketing at REG.
REG bio-based diesel fuels are the clean fuel option for many sectors, including on-road transportation, marine, and rail, and can help companies reach sustainability targets without any major equipment modifications or technology investments.
Our renewable fuels and customer service are helping to reduce greenhouse gas emissions today and offer a plug-and-play solution for the current shipping infrastructure. We look forward to further developing our relationship with Bunker Holding and supporting the shipping industry’s decarbonization movement, Bob Kenyon said.
With this partnership, Bunker Holding takes yet another step forward in continuing its mission of delivering responsible and innovative solutions in all aspects of bunkering.
As conventional fossil fuel continues to power most of the world’s marine fleet, we are thrilled to engage in this collaboration with REG. It not only further strengthens our supply chain of alternative fuel, but also deepens our know-how and insight into biofuels, said Christoffer Berg Lassen, CCO of Bunker Holding.
REG will work closely with Bunker Holding to expand its existing alternative fuel portfolio and offer sustainable fuels on a global scale to create significant value for the industry.
Engaging in partnerships with actors from value chains outside our normal boundaries is a cornerstone of our decarbonization strategy. The energy transition in shipping cannot be solved individually, and we acknowledge the importance of working closely together with partners, such as REG, who brings great expertise and complements our core capabilities within bunkering, ended Christoffer Berg Lassen.