Renewable Energy Group, Inc. (NASDAQ: REGI) confirmed that it has joined forces with Bunker Holding Group. Both the companies have inked a strategic global collaboration pact to further develop the U.S. and EU marine markets for sustainable bio-based diesel. REG’s bio-based diesel expertise combined with Bunker Holding’s global reach will enable the firms to play a significant role in the shipping industry’s shift to new and more friendly energy sources.
Bunker Holding continues to move forward in its objective to provide responsible and advanced solutions in all aspects of bunkering with this agreement. REG will collaborate closely with Bunker Holding to grow its current alternative fuel portfolio and provide sustainable fuels on a worldwide scale, leading to significant industry value.
Furthermore, this partnership agreement is initially focused on opportunities in North America and Europe, where tests of B20 and B30 are being conducted in high-traffic regions of both continents. This deal is a clear depiction of REG’s aim to create a cleaner environment and cut greenhouse gas emissions, as it continues to develop product offerings with broader reach into the roughly 70 billion gallon, or 230 million metric tons, worldwide maritime industry.
Additionally, Bunker Holding is honored to be able to offer clients an even larger selection of capable goods, certified by in-house testing, because of this new cooperation with Renewable Energy Group, one of the world’s leading manufacturers and providers of renewable fuels. Bunker Holding disclosed that this partnership will reinforce its supply chain of alternative fuel, but also increase its knowledge and understanding of biofuels.