Thursday, May 26, 2022
Maritime Propulsion

February 18, 2022

REG and Bunker Holding Partner to Advance Marine Biodiesel Use

Bunker Holding’s physical bunker subsidiary, Bunker One, ran in 2021 a test run on the M/T Amak Swan, operating the tanker on a B30 biofuel blend which consists of a second-generation bio feedstock. (Photo: Renewable Energy Group)

Bunker trader and supplier Bunker Holding Group and renewable fuels producer and supplier Renewable Energy Group, Inc. are partnering to further develop the U.S. and EU marine markets for sustainable bio-based diesel.

The collaboration agreement is initially focused on opportunities in North America and Europe, where trials of B20 and B30 are being run in high-traffic regions of both continents.

For REG, this agreement continues its efforts to expand product offerings with further reach into the approximately 70 billion gallon, or 230 million metric tons, global marine market and is a clear signal of the company’s mission to enable a cleaner world and reduce greenhouse gas emissions. The firms will work together to expand its existing alternative fuel portfolio and offer sustainable fuels on a global scale.

“At Renewable Energy Group we see clearly the opportunity for biodiesel to be a sustainable fuel option of choice for customers in the clean energy transition. Partnering with Bunker Holding will accelerate the marine industry adoption of biodiesel to achieve aggressive carbon reduction goals,” said Bob Kenyon, Senior Vice President, Sales and Marketing at REG.

“As conventional fossil fuel continues to power most of the world’s marine fleet, we are thrilled to engage in this collaboration with REG. It not only further strengthens our supply chain of alternative fuel, but also deepens our know-how and insight of biofuels,” said Christoffer Berg Lassen, CCO of Bunker Holding. “Engaging in partnerships with actors from value chains outside our normal boundaries is a cornerstone of our decarbonization strategy. The energy transition in shipping cannot be solved individually, and we acknowledge the importance of working closely together with partners, such as REG, who bring great expertise and complements our core capabilities within bunkering.”