REG acquires Clovis biodiesel plant, receives investment from ARES

In New Mexico, the Renewable Energy Group announced that it will acquire biodiesel assets in Clovis, New Mexico from ARES Corporation, who will concurrently invest an additional $8 million into Renewable Energy Group in an all common stock transaction.

ARES, one of the foremost engineering, risk management, software/IT and project management companies in the United States, owned the 15 Mgy biodiesel facility.  “We consider this position in the Southwest to be a long-term, strategic move for our company,” said Daniel J. Oh, President and Chief Operating Officer of Renewable Energy Group. “ARES’ strategic investment provides REG access to ARES’ world class engineering, risk management and government contracting expertise.”

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