OAKHURST, N.J. (DTN) -- Bunker Holding Group and Renewable Energy Group Inc. have entered into a strategic global collaboration agreement to further develop the U.S. and EU marine markets for sustainable biobased diesel.
The companies said partnering REG's expertise in biobased diesel with Bunker Holding's global reach will allow them to play a critical role in transitioning the shipping industry to new and more sustainable energy sources. This collaboration agreement is initially focused on both 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 global marine market and is a clear signal of the company's mission to enable a cleaner world and reduce greenhouse gas emissions. REG biodiesel is the clean fuel option for many sectors, including on-road transportation, marine and rail, and can help companies reach sustainability targets without any major equipment modifications of technology investments.
"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.
With this partnership, Bunker Holding takes yet another step forward in continuing its mission of delivering responsible and innovative solutions in all aspects of bunkering. REG will work closely with Bunker Holding to expand its existing alternative fuel portfolio and offer sustainable fuels on a global scale to create significant value for the industry.
"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."
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