The upgraded process will include distillation that removes impurities and help the plant increase the ability to produce an even higher purity biodiesel from a wider array of raw materials.
Following the improvement, the plant called ‘REG Newton’ will produce final product that exceeds the biodiesel industry quality standards, while meeting the company’s REG-9000 quality specifications.
For the latest project, REG Newton has refinanced its original loan through a syndicate led by AgStar Financial Services for an additional $5m with an extension to the term by five years.
REG president and CEO Daniel Oh said, "This investment shows our continuing confidence in biodiesel for the long-term. It furthers our efforts to enhance our lower-cost, multi-feedstock biodiesel business by continuing to broaden our customer base and provide more options for our customers to choose from."
REG vice president of manufacturing Brad Albin said, "These upgrades will allow us to utilize a broader spectrum of lower-cost raw materials. It also advances our efforts to produce the highest quality product for our customers."
