U.S. BIOFUELS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Market News

U.S. Biofuels Market- Recent Developments

New Product Launches

• In September 2022, POET announced the launch of its 70 million gallons-per-year biofuels plant Project Liberty in Emmetsburg, Iowa. The plant specializes in converting corn crop residue into cellulosic ethanol.
• In June 2021, REG Danville, a biorefinery owned by Renewable Energy Group, began producing renewable diesel in addition to biodiesel. The plant has capacity to produce 170 million gallons annually.
• In October 2020, Marathon Petroleum’s subsidiary, Marathon Renewables LLC, acquired Pacific Ethanol’s corn ethanol plants. This added 1,100 million gallons per year capacity to Marathon’s biofuels production.

Acquisition and Partnerships

• In February 2022, Darling Ingredients acquired Valley Proteins, a leading U.S. renderer, for US$ 1.1 billion. This expanded Darling's ingredients portfolio and biofuels production capabilities.
• In August 2021, Renewable Energy Group acquired Amber Resources, a producer and marketer of low carbon fuels. This expanded REG's biorefining manufacturing capacity and distribution infrastructure.
• In April 2021, Cargill invested approximately US$ 29 million to double the production capacity of its LaBelle, Florida, biodiesel plant to 150 million gallons per year. This increased Cargill's overall U.S. biodiesel capacity.