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Chevron to acquire Renewable Energy Group in $3.15B cash deal to boost renewable fuels position

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Chevron Corporation and Renewable Energy Group announced a definitive agreement under which Chevron will acquire the outstanding shares of REG in an all-cash transaction valued at $3.15 REG was a founder of the renewable fuels industry and has been a leading innovator ever since. billion, or $61.50

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Chevron completes acquisition of Renewable Energy Group

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Chevron Corporation completed its previously announced acquisition of Renewable Energy Group (REG) following approval by REG stockholders. The new Chevron segment will be called Chevron Renewable Energy Group. —Mark Nelson, executive vice president of Downstream & Chemicals for Chevron.

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UrbanX Group signs FEED contract with Hyundai Engineering for renewable diesel facility in Bakersfield

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UrbanX Renewables Group of Long Beach, CA, executed a front-end engineering design (FEED) contract with Hyundai Engineering Co., Ltd—an essential step for building the state’s first facility producing ultra-low carbon renewable diesel. It can also yield a prime sustainable aviation fuel (SAF). UrbanX process flow.

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Chevron makes equity investment in Novvi and its high-performance renewable base oil technology

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Chevron Products Company, a division of Chevron USA, and Novvi LLC announced that Chevron has made an equity investment in Novvi LLC (a joint venture of Amyris, Inc.; and American Refining Group (ARG) earlier post ). Terms of the transaction were not disclosed.

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Novvi LLC begins production of 100% renewable base oils & process oils

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Novvi LLC announced the successful start-up of its Deer Park, TX plant, where it is manufacturing and marketing 100% renewable base oils ( NovaSpec Base Oils ) for the lubricants industry, and 100% renewable process oils for polymer, adhesives, and personal care industries. Novvi is a joint venture of Amyris, Inc.,

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Optimus Technologies closes $17.8M Series A to advance Vector System for heavy-duty engines on 100% biodiesel

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The round included participation from one of North America’s largest commercial fleets, Chevron Renewable Energy Group, and Pittsburgh regional investors including: Idea Foundry, Inc., ​ Optimus Technologies recently announced a $17.8-million million Series A funding round led by Mitsui & Co. out of Tokyo, Japan.

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US Navy completes sea trial with ARA’s 100% drop-in renewable diesel fuel

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A Navy ship has, for the first time, operated on a 100% drop-in renewable diesel fuel. Naval Surface Warfare Center, Port Hueneme Division’s (NSWC PHD) Self Defense Test Ship (SDTS) completed final-phase testing of a 100% drop-in renewable diesel fuel as part of the Navy’s MILSPEC qualification program. Earlier post.). Earlier post.)

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