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Chevron completes Renewable Energy Group acquisition

Chevron completes Renewable Energy Group acquisition
Renewable Energy Group Inc (REG) utilizes a globally integrated procurement, distribution, and logistics network to operate 11 biorefineries in the United States (US) and Europe. In 2020, REG produced 519 million (US) gallons, or 1.7 million tonnes, of cleaner fuel delivering 4.2 million tonnes of carbon reduction (photo courtesy REG).

In the United States (US), Chevron Corporation (Chevron), one of the world’s largest integrated energy companies has completed the previously announced acquisition of Renewable Energy Group, Inc. (REG), a global producer and supplier of renewable fuels following approval by REG shareholders.

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In March this year, the companies announced reaching a definitive agreement. The acquisition combines REG’s growing renewable fuels production and leading feedstock capabilities with Chevron’s large manufacturing, distribution, and commercial marketing position.

We have brought together companies with complementary capabilities, assets, and customer relationships to make Chevron one of the leading renewable fuels companies in the United States, said Mark Nelson, EVP of Downstream & Chemicals for Chevron.

Chevron now offers our customers an expanded suite of cost-effective, lower carbon solutions that utilize today’s fleets and infrastructure, Mark Nelson said.

Further, Cynthia “CJ” Warner, formerly President and CEO of REG, has been appointed to Chevron’s Board of Directors, effective June 13, 2022.

CJ Warner has deep experience across both the traditional and renewable energy sectors. Her perspective and guidance will be invaluable as Chevron leverages its strengths to deliver lower carbon energy to a growing world, said Chevron Chairman and CEO Mike Wirth.

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