Two biodiesel production plants in the Midwest owned by Chevron Renewable Energy Group will shutter operations as a result of weak price margins. The company’s biodiesel plant in DeForest, Wisconsin, will be shut indefinitely in April due to market conditions, according to a recent LinkedIn post from the facility’s manager, Brian Coker.
It has also been reported that Chevron/REG will close its 30-million-gallon-per year plant in Ralston, Iowa, because of a challenging market environment. REG bought the 20-million-gallon-per-year Wisconsin biodiesel facility in 2016 from Sanimax and made several costly upgrades to the facility in the last several years. Chevron purchased REG, the leading producer of biodiesel in the U.S. in terms of production capacity, in mid 2022.
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The only significant price...