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Renewable Energy Group

Topic: Company

 From HandWiki - Reading time: 3 min
Renewable Energy Group, Inc.
TypePublic company
NASDAQ: REGI
S&P 600 Component
ISINUS75972A3014
IndustryRenewable energy industry
PredecessorWest Central Cooperative
Founded2006 (2006)[1]
HeadquartersAmes, Iowa, United States
Key people
 Cynthia Warner, President & CEO[2]
ProductsBiodiesel
RevenueDecrease $2.135 billion (2020) [3]
Decrease $122.813 million (2020) [3]
Total assetsDecrease $1.461 billion (2020) [3]
Number of employees
900+ (US), 126 (Intl) (2017) [1]
Websitewww.regi.com

Renewable Energy Group is a biodiesel production company headquartered in Ames, Iowa. The company operates 12 biorefineries and a feedstock processing facility.[4] (As of 2018), the company is a Fortune 1000 corporation.[5]

History

Renewable Energy Group began in 1996 as the biodiesel division of West Central Cooperative[6][7] with the construction of a plant in Ralston, Iowa. In 2006, the company separated from West Central and moved its headquarters to Ames.[8]

In 2013, the company acquired Tulsa-based biofuels company Syntroleum Corporation amid that company's struggles for profitability.[9] In 2015 it acquired the assets of Grays Harbor, Washington-based biodiesel company Imperium Renewables.[10]

Leadership

Upon separation from West Central, the initial CEO of the company was Jeff Stroburg, succeeded in 2011 by Daniel Oh.[8] After Oh's abrupt and unexpected resignation in 2017, Reginald Howard became interim CEO, and was replaced in 2018 by Cynthia Warner.[11][2]

Plant Explosions

In June 2001, the predecessor company's InterWest facility in Ralston exploded, leaving one man in critical condition.[12][13]

The company's biofuels production facility in Geismar, Louisiana suffered from explosions in April and September 2015.[14] As a result of this explosion, Renewable Energy Group was cited with three "willful" safety violations and was fined $70,000 by OSHA.[15]

References

  1. ↑ 1.0 1.1 "FORM 10-K". https://www.sec.gov/Archives/edgar/data/1463258/000162828018003045/regi-20171231x10k.htm. Retrieved 6 March 2019. 
  2. ↑ 2.0 2.1 "Renewable Energy Group Names Cynthia Warner President, CEO". Transport Topics. 10 December 2018. https://www.ttnews.com/articles/renewable-energy-group-names-cynthia-warner-president-ceo. Retrieved 6 March 2019. 
  3. ↑ 3.0 3.1 3.2 "Annual Report 2020". https://investor.regi.com/sec-filings/annual-reports/. Retrieved 4 April 2020. 
  4. ↑ "About REG". https://regi.com/about-reg. Retrieved 6 March 2019. 
  5. ↑ "Renewable Energy Group". http://fortune.com/fortune500/renewable-energy-group/. Retrieved 6 March 2019. 
  6. ↑ Mika, Dan (3 Nov 2017). "REG marks 10 years". Ames Tribune. https://www.amestrib.com/news/20171103/reg-marks-10-years. Retrieved 6 March 2019. 
  7. ↑ "West Central Coop: Adding Value for 75 Years". http://www.midwestpartnership.com/newsroom.cfm/Article/Community-News-and-Updates/West-Central-Coop-Adding-Value-for-75-Years/2008-7-1. Retrieved 6 March 2019. 
  8. ↑ 8.0 8.1 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. http://mlppubsonline.com/publication/?i=446449#{%22issue_id%22:446449,%22page%22:84}. Retrieved 6 March 2019. 
  9. ↑ Walton, Rod (19 December 2013). "Syntroleum Corp. being acquired by Renewable Energy Group". Tulsa World. https://www.tulsaworld.com/business/oilandgasactivity/syntroleum-corp-being-acquired-by-renewable-energy-group/article_ef5d396f-9571-5195-85fb-c727c46fade0.html. Retrieved 6 March 2019. 
  10. ↑ González, Ángel (4 August 2015). "Imperium Renewables biodiesel plant sold to Iowa company". Seattle Times. https://www.seattletimes.com/business/local-business/imperium-renewables-biodiesel-plant-sold-to-iowa-company/. Retrieved 6 March 2019. 
  11. ↑ Mika, Dan (5 July 2017). "REG CEO unexpectedly resigns". Ames Tribune. https://www.amestrib.com/news/20170705/reg-ceo-0010unexpectedly-resigns. Retrieved 6 March 2019. 
  12. ↑ "Man injured in plant explosion in critical condition". The Rock Island Dispatch-Argus. Associated Press. 20 June 2001. https://qconline.com/news/illinois/man-injured-in-plant-explosion-in-critical-condition/article_f9959a9f-d140-59b8-a760-83807ce19c6d.html. Retrieved 6 March 2019. 
  13. ↑ Heman, Butch (20 June 2001). "One Injured in InterWest Explosion". Daily Times Herald. http://cdn.coverstand.com/52840/446449/e04cdc177d3be759096d478b5a5ab7e0650c134c.1.pdf. Retrieved 6 March 2019. 
  14. ↑ Mitchell, David (10 September 2015). "Medical conditions upgraded for burn victims in Renewable Energy Group plant explosion". The Advocate. https://www.theadvocate.com/baton_rouge/news/crime_police/article_1e195809-cc19-5a65-b4f6-894362720f36.html. Retrieved 6 March 2019. 
  15. ↑ Mitchell, David (16 March 2016). "OSHA fines Geismar plant $70,000 over September explosion that injured four". The Advocate. https://www.theadvocate.com/new_orleans/news/communities/article_39c96789-a2b6-57c5-a483-95efb68ff58b.html. Retrieved 6 March 2019. 

External links




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