REG secures up to $20 million to finance Ralston expansion project

In Iowa, Renewable Energy Group announced it has secured financing of up to $20 million from First Midwest Bank for the $24 million capacity-expansion project at the company’s Ralston, Iowa biodiesel refinery.

The upgrade project, announced last November, is expected to increase the annual nameplate capacity of the Ralston biorefinery from 12 million to 30 million gallons.  This would match the capacity at the company’s other Iowa biorefineries in Mason City and Newton. First Midwest Bank has also been involved in financing for REG Newton.