The move will combine Chevron’s manufacturing, distribution and commercial marketing abilities with Renewable Energy Group’s growing renewable fuels production.
In 2020, Renewable Energy Group produced 1.7 million tonnes of clean fuel.
Chevron aims to grow its renewable fuels production to 100,000 bpd by 2030.
The deal is expected to close in H2 2022 after passing shareholder and regulatory approvals.
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