Renewable Energy Group, Inc. (REG) announced that it has sold a cumulative one billion gallons of biodiesel during its 17-year history. The company started by marketing 30,000 gallons of biodiesel in 1996; last year, it sold more than 258 million gallons.
REG said that it achieved this milestone through investments in a fully integrated value chain including its manufacturing, sales & marketing, and supply chain management capabilities. The company also committed itself to research and development as well as continuous improvement, allowing it to streamline the production process and broadly expand the variety of raw materials used to make biodiesel.
REG was formed and began operating as an independent company in 2006, as the successor to the biodiesel operations of West Central Cooperative in Ralston, IA, which first began producing biodiesel from a one million gallon per year batch plant in 1996. Private investors, including West Central, provided capital enabling the company to grow, both organically and through acquisitions in California, Florida, Georgia, Illinois, Iowa, Minnesota, New Hampshire, New Mexico, New York, New Jersey and Texas. In January 2012, REG became a publicly traded company listed on the NASDAQ stock exchange and trades under the ticker REGI.