Renewable Diesel Joint Venture
Love's, Cargill JV to Produce, Market Renewable Diesel
OAKHURST, N.J. (DTN) -- The Love's Family of Companies, Cargill and their affiliates have entered into a 50-50 joint venture, called Heartwell Renewables, to produce and market renewable diesel.
As a result of the joint venture, a new production plant with the ability to produce approximately 80 million gallons a year of renewable diesel will be built in Hastings, Nebraska. Cargill will provide feedstock in the form of tallow.
Once the diesel is produced, Musket, the commodity trading and logistics arm of the Love's Family of Companies, will transport and market the product in the United States. Heartwell Renewables will be the only entity of its kind to both produce and market renewable diesel all the way to the retail pump.
Construction is scheduled to begin in the following weeks, and operations should start in the spring of 2023.
"Heartwell Renewables expands the commitment from the Love's Family of Companies to reduce carbon emissions," said JP Fjeld-Hansen, vice president of Musket and Trillium, two Houston-based members of the Love's Family of Companies. "When considering the environmental benefits and performance enhancements of renewable diesel, the creation of Heartwell Renewables is a long-term win for not only the companies involved but also for consumers and the environment."
John Niemann, Cargill's North American lead for protein ingredients and international, said, "Through the partnership with Love's, both companies can leverage their unique expertise and resources to address the growing demand for biofuels while making an impact in the communities where we operate."
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