GoodFuels, the world-leading supplier of sustainable marine biofuels, and global producer and supplier of renewable fuels Renewable Energy Group (NASDAQ:REGI) (REG) have entered a long term agreement for the supply and development of sustainable marine biofuel solutions for the global shipping industry.
With REG’s expertise in biofuels and GoodFuels’ pioneering strengths, both companies are playing an important role in enabling the decarbonisation efforts for shipping companies.
This announcement reinforces GoodFuels’ mission to become the favoured green fuel supplier for all shipping segments, and ambition to scale up the production of advanced marine biofuels in the right way using sustainable feedstocks.
For REG, the agreement is a clear signal of the company’s mission to enable a cleaner world and reduce greenhouse gas emissions. REG biofuels are making a real impact in the market today by offering solutions for many transportation sectors, including marine.
Bart Hellings, Chief Operating Officer at GoodFuels, said: “At GoodFuels, we collaborate with impact-driven partners to advance sustainable shipping with our instant decarbonisation solution. Our sustainable marine biofuels are in a prime position to deliver on immediate-term climate goals, and are one of the only options available on the market today. We have been closely working with REG for several years, and we foresee a great future together in accelerating the energy transition within shipping.”
Also commenting on the announcement, Raymond Richie, Vice President and Managing Director, International Business at REG, said: “We’re committed to supporting the shipping industry’s decarbonisation movement by working with GoodFuels to adopt and develop sustainable marine biofuels. Our biofuels are making real carbon reduction happen today and do not require users to make significant changes or technology purchases. We look forward to continuing our great partnership with GoodFuels.”
GoodFuels and REG will continue to expand the development and delivery of advanced biofuels for the international shipping industry.