$100 M Biodiesel Investment Ups Production

Ralston, Iowa [RenewableEnergyAccess.com] In what is said to be one of the largest investments in biodiesel in North America, the Renewable Energy Group, Inc. (REG) completed $100 million financing and formed 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. 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.
Previous articleSolarcoating Machinery Receives Orders for Plant and Coater
Next articleSecretive Solar Start-up Aims for Silicon Production

No posts to display