Bunker Holding Group, a supplier and trader of marine fuels, and Renewable Energy Group (REG), a producer and supplier of renewable fuels, have entered into a strategic global collaboration agreement to further develop the US and EU marine markets for sustainable bio-based diesel. The companies are looking to play a critical role in transitioning the shipping industry to new and more sustainable energy sources.
This agreement will enable REG to continue to expand product offerings, with further reach into the approximately 70bn-gallon, or 230m-metric-ton, global marine market. REG biodiesel is a clean fuel option that can help companies reach sustainability targets without any major equipment modifications or technology investments. “Our renewable fuels … offer a plug-and-play solution for the current shipping infrastructure,” said Bob Kenyon, Sr. VP, Sales and Marketing, at REG.
“Engaging in partnerships with actors from value chains outside our normal boundaries is a cornerstone of our decarbonisation strategy,” said Christoffer Berg Lassen, CCO of Bunker Holding. “The energy transition in shipping cannot be solved individually, and we acknowledge the importance of working closely together with partners, such as REG, who bring great expertise and complement our core capabilities within bunkering.”