Renewable Energy Group Acquires Northern California Distributor Dawson Oil Company
02 Mai 2022 - 9:35PM
Business Wire
Acquisition marks REG’s latest step in
delivering fuel directly to end users
Renewable Energy Group, Inc. (REG) (NASDAQ: REGI) announced
today the acquisition of Dawson Oil Company, a bulk fuel
distributor and cardlock owner, located in Northern California.
Dawson Oil is a full solution provider, offering diesel, gasoline,
DEF and lubricants.
Dawson Oil Company brings approximately 24 million gallons of
fuel sales per year to the REG portfolio. The company operates six
cardlocks in Northern and Central California, serving nearly 4,500
customers in the Greater Sacramento Valley. Dawson Oil will
continue to serve existing customers and expand fuel offering to
include REG EnDura Fuels™ to various end users such as commercial,
agriculture, industrial, government and recreation vehicles and
fleets.
“This acquisition is a strategic growth opportunity for us as
California continues to lead the way in the adoption and transition
to cleaner, lower carbon fuels,” said Cynthia (CJ) Warner, REG
President and CEO. “Combining REG’s bio-based diesel expertise with
the market and operational know-how of the Dawson Oil team will
further position REG as the clean fuel transition partner of
choice.”
Dawson Oil has been family owned and operated for over 50 years,
after being started in 1970 by Mel and Ellie Dawson. The Company
has a strong reputation in the community, committed to providing
customers with the products and services they expect, when they
need them.
“I am proud of the heritage and business our team has built at
Dawson Oil,” said owner Kasey Fray. “I believe joining REG will
grow our operation into the next chapter by introducing renewable
fuels and providing our customers with the sustainable solutions
they need, while maintaining the quality of service they
expect.”
This news builds upon REG’s announcement from earlier this year
that it had acquired Amber Resources, a leading fuel distributor in
Southern California. The acquisition of Dawson Oil is REG’s latest
move in building upon its downstream strategy of delivering fuel
directly to end users.
“We are thrilled for the opportunity to provide EnDura Fuels™
directly to end users in the Northern California market through the
infrastructure Dawson Oil has available,” said Bob Kenyon, Senior
Vice President of Sales and Marketing at REG. “This combined team
will provide current and future customers with the clean fuel
solutions they need to meet their sustainability goals.”
About Renewable Energy Group
Renewable Energy Group is leading the energy and transportation
industries’ transition to sustainability by converting renewable
resources into high-quality, sustainable fuels. Renewable Energy
Group is an international producer of sustainable fuels that
significantly lower greenhouse gas emissions to immediately reduce
carbon impact. Renewable Energy Group utilizes a global integrated
procurement, distribution and logistics network to operate 11
biorefineries in the U.S. and Europe. In 2021, Renewable Energy
Group produced 480 million gallons delivering 4.1 million metric
tons of carbon reduction. Renewable Energy Group is meeting the
growing global demand for lower-carbon fuels and leading the way to
a more sustainable future.
Note Regarding Forward Looking Statements
This press release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, as amended, including statements regarding REG’s strategic
growth plans, activities to support the adoption of renewable
fuels, the addition of over 24 million gallons/year of fuel sales,
expanding low carbon fuel sales in California, our ability to
continue business from these locations, and REG being a clean
energy transition partner of choice. These forward-looking
statements are based on current expectations, estimates,
assumptions and projections that are subject to change, and actual
results may differ materially from the forward-looking statements.
Factors that could cause actual results to differ materially
include, but are not limited to, our inability to successfully
integrate the acquired companies’ operations into ours, failure to
achieve expected synergies, the discovery of liabilities or other
obligations of Dawson Oil, failure to expand low carbon fuel sales
in California, limited customer demand for low carbon fuels, and
other risks and uncertainties described in REG’s annual report on
Form 10-K for the year ended December 31, 2021 and subsequently
filed Form 10-Q and other periodic filings with the Securities and
Exchange Commission. All forward-looking statements are made as of
the date of this press release and REG does not undertake to update
any forward-looking statements based on new developments or changes
in our expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20220502005642/en/
Katie Stanley Renewable Energy Group katie.stanley@regi.com
(515) 357-9085
Renewable Energy (NASDAQ:REGI)
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