Renewable Energy Group

Renewable Energy Group is a biodiesel production company organized in Delaware and headquartered in Ames, Iowa. The company operates 14 biorefineries and a feedstock processing facility.[3] As of 2018, the company is a Fortune 1000 corporation.[4]

Renewable Energy Group, Inc.
Public company
Traded asNYSE: REGI
IndustryRenewable energy industry
PredecessorWest Central Cooperative
Founded2006 (2006)[1]
HeadquartersAmes, Iowa, United States
Key people
 Cynthia Warner, President & CEO[2]
ProductsBiodiesel
Revenue $2.158 billion (2017) [1]
-$79.1 million (2017) [1]
Total assets $1.006 billion (2017) [1]
Number of employees
727 (US), 126 (Intl) (2017) [1]
Websiteregi.com

History

Renewable Energy Group began in 1996 as the biodiesel division of West Central Cooperative[5][6] with the construction of a plant in Ralston, Iowa. In 2006, the company separated from West Central and moved its headquarters to Ames.[7]

In 2013, the company acquired Tulsa-based biofuels company Syntroleum Corporation amid that company's struggles for profitability.[8] In 2015 it acquired the assets of Grays Harbor, Washington-based biodiesel company Imperium Renewables.[9]

Leadership

Upon separation from West Central, the initial CEO of the company was Jeff Stroburg, succeeded in 2011 by Daniel Oh.[7] After Oh's abrupt and unexpected resignation in 2017, Reginald Howard became interim CEO, and was replaced in 2018 by Cynthia Warner.[10][2]

Plant Explosions

In June 2001, the predecessor company's InterWest facility in Ralston exploded, leaving one man in critical condition.[11][12]

The company's biofuels production facility in Geismar, Louisiana suffered from explosions in April and September of 2015.[13] As a result of this explosion, Renewable Energy Group was cited with three "willful" safety violations and was fined $70,000 by OSHA.[14]

References
  1. "FORM 10-K". Securities and Exchange Commission. Retrieved 6 March 2019.
  2. "Renewable Energy Group Names Cynthia Warner President, CEO". Transport Topics. 10 December 2018. Retrieved 6 March 2019.
  3. "About REG". Footer Border Renewable Energy Group, Inc. Retrieved 6 March 2019.
  4. "Renewable Energy Group". Fortune. Retrieved 6 March 2019.
  5. Mika, Dan (3 Nov 2017). "REG marks 10 years". Ames Tribune. Retrieved 6 March 2019.
  6. "West Central Coop: Adding Value for 75 Years". Midwest Partnership. Retrieved 6 March 2019.
  7. Enabling a Cleaner World: The History of Renewable Energy Group, 1995-2015. Renewable Energy Group, Inc. 2017. pp. 64–75. ISBN 978-0-9978284-0-5. Retrieved 6 March 2019.
  8. Walton, Rod (19 December 2013). "Syntroleum Corp. being acquired by Renewable Energy Group". Tulsa World. Retrieved 6 March 2019.
  9. González, Ángel (4 August 2015). "Imperium Renewables biodiesel plant sold to Iowa company". Seattle Times. Retrieved 6 March 2019.
  10. Mika, Dan (5 July 2017). "REG CEO unexpectedly resigns". Ames Tribune. Retrieved 6 March 2019.
  11. "Man injured in plant explosion in critical condition". The Rock Island Dispatch-Argus. Associated Press. 20 June 2001. Retrieved 6 March 2019.
  12. Heman, Butch (20 June 2001). "One Injured in InterWest Explosion" (PDF). Daily Times Herald. Retrieved 6 March 2019.
  13. Mitchell, David (10 September 2015). "Medical conditions upgraded for burn victims in Renewable Energy Group plant explosion". The Advocate. Retrieved 6 March 2019.
  14. Mitchell, David (16 March 2016). "OSHA fines Geismar plant $70,000 over September explosion that injured four". The Advocate. Retrieved 6 March 2019.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.