Vivergo suffered stunning losses before closing

February 13, 2019 |

In the UK, local press reports that Vivergo lost nearly £60 million during the year just before it announced its closure last October, following a £30 million loss the year prior due to what the company said was a delay by certain European member states to implement the 10% blending mandate called for under the Renewable Fuel Standard. Although the company said at the end of last year that the plant was being maintained just in case market conditions changed allowing it to restart production, it now says it doesn’t expect either of those things to happen.

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