Thursday, October 07, 2010

Renewable Energy Group acquires Tellurian Biodiesel, Inc. and American BDF, LLC

A long, sometimes painful and ultimately rewarding journey comes to an end for Tellurian as it folds into the country's leading biodiesel company - REG. A new dawn for sustainable biodiesel is around the corner.

Eric

Here is the press release.

(LOS ANGELES, Calif.) July XX, 2010—The nation’s leading biodiesel producer and marketer today announced two acquisitions and assumption of a used cooking oil supply agreement that helps the quick-service restaurant industry and the entire nation move closer to clean energy sustainability goals.

Renewable Energy Group (REG®), headquartered in Ames, Iowa, today announced it is acquiring Tellurian Biodiesel, Inc., a California-based biodiesel company and marketer, and American BDF, LLC. ABDF— a joint-venture owned by Golden State Service Industries, a wholly-owned subsidiary of Golden State Foods of Irvine, Calif.; Restaurant Technologies Inc. (RTI) of Eagan, Minn.; and Tellurian Biodiesel—previously focused on building a national array of small biodiesel plants that would convert used cooking oil as its core biodiesel feedstock.

The acquisition connects a national collection system for used cooking oil —including RTI’s national clientele of more than 16,000 installations —with REG’s national network of proven, commercial-scale biodiesel manufacturing facilities in order to produce high performing, clean liquid fuel.

“Turning used cooking oil into biodiesel at REG’s network of manufacturing facilities is another good outlet for our client’s waste products to power a simple, green, and safe solution for fueling our nation’s progress toward clean energy goals,” explained RTI CEO Jeff Kiesel.

Analysts have long looked to used cooking oil as an excellent low-carbon feedstock source for the biodiesel industry. “Just by gaining access to this nationwide system of waste cooking oil collection depots, REG has the potential, over time, to replace more than a half million barrels of imported crude oil with sustainable, domestically produced biodiesel,” explained vice president of supply chain management, Dave Elsenbast.

Leaders involved in the deal cite reduction of dependence on imported oil as just one of the many benefits of this new relationship. “REG’s plans and capabilities to turn waste cooking r oil into green house gas-reducing biodiesel is another sustainable solution that we that we can share with our customers,” said Golden State Service Industries president, Bill Sanderson. “This is a wonderful example of a commercialized, national sustainable biofuel platform that our customers can really get behind.”

Process technology played a role in the acquisition decision, Tellurian’s Eric Bowen explained. “Even the least desirable feedstocks which come from grill and fryer traps will be converted into biodiesel,” explained former Tellurian chief Eric Bowen of the used cooking oil from the former ABDF venture that will now augment REG’s feedstock supplies.

REG’s national production network includes commercial-scale, multi-feedstock-capable biodiesel facilities with total combined annual production capacity of more than 200 million gallons. REG plans to market high quality finished biodiesel under its REG-9000TM branded biodiesel platform to petroleum distributors and refiners through its existing nationwide infrastructure.
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3 comments:

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