Clean Fuels Alliance America CEO Donnell Rehagen welcomed news Monday that Chevron finalized its acquisition of Renewable Energy Group, a longtime Clean Fuels Alliance America member.
As the acquisition is finalized, Chad Stone of Renewable Energy Group will continue to lead the Clean Fuels Governing Board as chair.
Rehagen says, “This is a meaningful acquisition for our industry and for Clean Fuels for many reasons.”
The company was one of the first to build a biodiesel plant in the United States. With 11 biorefineries in the U.S. and Europe and more than half a billion gallons of production of biodiesel and renewable diesel, Renewable Energy Group is also one of Clean Fuels’ largest members in terms of fuel production.
California-based Chevron has steadily grown its clean fuels business, actively marketing its Renewable Diesel Blend at the pump in California. Renewable Energy Group will remain headquartered in Ames, Iowa, and will focus on growing Chevron's portfolio of lower-carbon fuels.