REG acquires California renewable fuel company
Ames-based Renewable Energy Group Inc. has acquired Amber Resources LLC and its affiliated entities, the company announced in a recent news release. The acquisition helps broaden REG’s footprint in one of the most renewable-energy-focused areas of the world, officials said in the release. Amber Resources will add more than 60 million gallons a year of diesel sales to REG’s portfolio. It will also add a significant lubricants business as a Shell Prestige distributor, the release states. REG President and CEO Cynthia Warner said the deal is a strategic move for REG that enables the company to “build upon our platform of direct sales, positioning us to capture full value chain margins and drive commercial optimization, while helping our customers achieve their decarbonization goals” It also adds to the company’s services line and expands sales opportunities in California, she said. With the acquisition, REG will add eight locations in Southern California, including distribution centers. It will continue operations from those locations, officials said.