Renewable Energy Group

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Renewable Energy Group, Inc.
Company typeSubsidiary
Nasdaq: REGI
IndustryRenewable energy industry
PredecessorWest Central Cooperative
Founded2006 (2006)[1]
HeadquartersAmes, Iowa, United States
Key people
 Cynthia Warner, President and CEO[2]
ProductsBiodiesel
RevenueDecrease $2.135 billion (2020)[3]
Decrease $122.813 million (2020)[3]
Total assetsDecrease $1.461 billion (2020)[3]
Number of employees
900+ (US), 126 (Intl) (2017)[1]
ParentChevron Corporation
Websitewww.regi.com

Renewable Energy Group is a biodiesel production company headquartered in Ames, Iowa. The company operates 12 biorefineries and a feedstock processing facility.[4] As of 2018, the company is a Fortune 1000 corporation.[5]

History

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Renewable Energy Group began in 1996 as the biodiesel division of West Central Cooperative[6][7] with the construction of a plant in Ralston, Iowa. In 2006, the company separated from West Central and moved its headquarters to Ames.[8]

In 2013, the company acquired Tulsa-based biofuels company Syntroleum Corporation amid that company's struggles for profitability.[9] In 2015 it acquired the assets of Seattle-based biodiesel company Imperium Renewables.[10]

On February 28, 2022, the company announced they would be acquired by the California-based oil company Chevron Corporation.[11] On June 13, the acquisition was completed.[12]

Leadership

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Upon separation from West Central, the initial CEO of the company was Jeff Stroburg, succeeded in 2011 by Daniel Oh.[8] After Oh's abrupt and unexpected resignation in 2017, Reginald Howard became interim CEO, and was replaced in 2018 by Cynthia Warner.[13][2]

Plant explosions

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In June 2001, the predecessor company's InterWest facility in Ralston exploded, leaving one man in critical condition.[14][15]

The company's biofuels production facility in Geismar, Louisiana suffered from explosions in April and September 2015.[16] As a result of this explosion, Renewable Energy Group was cited with three "willful" safety violations and was fined $70,000 by OSHA.[17]

References

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  • Official website
    • Historical business data for Renewable Energy Group:
    • SEC filings

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