REG, Bunker Holding partner up to advance biodiesel use in shipping industry
Renewable Energy Group (REG), a producer and supplier of renewable fuels, has entered into a strategic global collaboration agreement with Bunker Holding Group, a supplier and trader of marine fuels, to further develop the U.S. and EU marine markets for sustainable bio-based diesel.
The collaboration will see the combination of REG’s expertise with Bunker Holding’s global reach to help the shipping industry transition to new and more sustainable energy sources.
As disclosed, the agreement is initially focused on opportunities in North America and Europe, where trials of B20 and B30 are underway in high-traffic regions of both continents.
Under the agreement, REG will continue its efforts to expand product offerings with further reach into the global marine market and boost the company’s mission to reduce greenhouse gas emissions.
As for Bunker Holding, the company will work closely with REG to expand its existing alternative fuel portfolio and offer sustainable fuels on a global scale to contribute to the industry.
Commenting on the partnership, Christoffer Berg Lassen, CCO of Bunker Holding, said: “Engaging in partnerships with actors from value chains outside our normal boundaries is a cornerstone of our decarbonisation strategy. The energy transition in shipping cannot be solved individually, and we acknowledge the importance of working closely together with partners, such as REG, who brings great expertise and complements our core capabilities”.
“At Renewable Energy Group we see clearly the opportunity for biodiesel to be a sustainable fuel option of choice for customers in the clean energy transition. Partnering with Bunker Holding will accelerate the marine industry adoption of biodiesel to achieve aggressive carbon reduction goals”, said Bob Kenyon, senior vice president, Sales and Marketing at REG.
“Our renewable fuels and customer service are helping to reduce greenhouse gas emissions today and offer a plug-and-play solution for the current shipping infrastructure. We look forward to further developing our relationship with Bunker Holding and supporting the shipping industry’s decarbonisation movement.”
In line with supporting shipping industry decarbonisation, REG also entered a long-term agreement with Dutch GoodFules for the supply and development of sustainable marine biofuel in 2021.
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