AMES, Iowa, July 19, 2017 (GLOBE NEWSWIRE) -- Renewable Energy Group, Inc. (NASDAQ:REGI) lauded California lawmakers for approving pro-low carbon fuels legislation that included a ten year extension of the state’s cap-and-trade program and pioneering Low Carbon Fuel Standard (LCFS), which encourages greater use of biomass-based diesel.
With a bi-partisan, 2/3 supermajority vote, legislators passed A.B. 398, extending the cap-and-trade program and LCFS from the programs’ initial end date in 2020 through 2030.
“As a leading provider of lower-carbon biomass-based diesel in California and North America, REG is thankful to Golden State legislators for these forward thinking actions that will further improve California’s carbon reduction efforts and help provide cleaner burning fuel for its citizens,” said Randy Howard, Interim President and CEO. “As a long-time Californian, I have seen firsthand how the LCFS and cap-and-trade have improved our air quality and enhanced our energy security. This long term commitment will further both of those worthwhile goals and provide many more environmental and economic benefits.”
About Renewable Energy Group
Renewable Energy Group, Inc. (NASDAQ:REGI) is a leading provider of cleaner, lower carbon intensity products and services. We are an international producer of biomass-based diesel, a developer of renewable chemicals and are North America's largest producer of advanced biofuel. REG utilizes an integrated procurement, distribution, and logistics network to convert natural fats, oils, greases, and sugars into lower carbon intensity products. With 14 active biorefineries, a feedstock processing facility, research and development capabilities and a diverse and growing intellectual property portfolio, REG is committed to being a long-term leader in bio-based fuel and chemicals.