Leading renewable fuel producer and supplier Renewable Energy Group (REG) has entered a partnership with marine fuel supplier and trader Bunker Holding Group to further develop marine markets for biodiesel in the USA and European Union (EU), REG announced.
The agreement would initially focus on opportunities in North America and Europe, where trials of B20 and B30 were being run in high-traffic regions of both continents, REG said in the 18 February statement.
“Partnering with Bunker Holding will accelerate the marine industry adoption of biodiesel to achieve aggressive carbon reduction goals,” REG senior vice president (sales and marketing) Bob Kenyon said.
REG said it would work closely with Bunker Holding to expand its existing alternative fuel portfolio and offer sustainable fuels on a global scale.
“The energy transition in shipping cannot be solved individually, and we acknowledge the importance of working closely together with partners, such as REG,” Bunker Holding CCO Christoffer Berg Lassen said.
US-headquartered REG is one of the largest biodiesel producers in North America, and a leading biodiesel firm globally. The company operates 11 bio-refineries in the USA and Europe. In 2020, REG said it produced 1.7M tonnes of biofuels, delivering 4.2M tonnes of carbon reduction.
Bunker Holding specialises in the purchase, sale and supply of fuel and lube oil to ships. The largest firm in the USTC Group, the company’s portfolio includes oil and energy, shipping & logistics, ship owning, risk management, car activities and IT.