Renewable Energy Group to Conduct Strategic Review of REG Life Sciences Activities
November 18 2016 - 8:00AM
Business Wire
Renewable Energy Group’s (NASDAQ:REGI) Board of Directors
yesterday authorized a review of strategic alternatives for its
Life Sciences subsidiary, which is developing renewable chemicals
and fuels using a proprietary microbial fermentation process. The
strategic review process will be comprehensive and focused on the
best path to maximize shareholder value.
Over the last three years under REG ownership, the Life Sciences
subsidiary has advanced its technology, increased the number of
potential products that can be made from the technology and
expanded its intellectual property portfolio.
“REG Life Sciences recently announced its first commercial
product,” said Daniel J. Oh, REG’s President and Chief Executive
Officer. “We believe now is the right time to review strategic
alternatives for Life Sciences in order to generate value from this
investment. The REG Board of Directors and management are committed
to delivering value for our shareholders, and today's announcement
underscores our stated objective to optimize our portfolio.”
There can be no assurance that the strategic review will result
in any specific action or transaction. REG does not intend to
provide updates concerning this strategic review process until its
Board of Directors has approved a specific action or REG has
otherwise determined that further disclosure is appropriate.
About Renewable Energy Group
Renewable Energy Group, Inc. is a leading provider of cleaner,
lower carbon intensity products and services and is North America’s
largest producer of biomass-based diesel. REG utilizes a nationwide
production, distribution and logistics system as part of an
integrated value chain model to focus on converting natural fats,
oils and greases into advanced biofuels and converting diverse
feedstocks into renewable chemicals. With 12 active biorefineries
across the country, research and development capabilities and a
diverse and growing intellectual property portfolio, REG is
committed to being a long-term leader in bio-based fuels and
chemicals.
For more than a decade, REG has been a reliable supplier of
advanced biofuels which meet or exceed ASTM quality specifications.
REG sells REG-9000 biomass-based diesel to distributors so
consumers can have cleaner burning fuels that help diversify the
energy complex and increase energy security. REG-9000 biomass-based
diesel is distributed in most states in the US. REG also markets
ultra-low sulfur diesel and heating oil in the northeastern and
midwestern US. For more information on REG visit our website at
www.regi.com.
Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, including statements relating to the REG’s review of
strategic alternatives for its Life Sciences subsidiary with a view
to benefiting shareholders. These forward-looking statements are
based on current expectations and assumptions, are subject to
change, and actual results may differ materially. Factors that
could cause actual results to differ materially include that REG’s
strategic review may not result in any specific action or
transaction, that any strategic alternative pursued by REG may not
result in an increase in shareholder value and other risks and
uncertainties described from time to time in REG's annual report on
Form 10-K for the year ended December 31, 2015, quarterly reports
on Form 10-Q and other periodic filings with the Securities and
Exchange Commission. All forward-looking statements are made as of
the date of this press release and REG does not undertake to update
any forward-looking statements based on new developments or changes
in our expectations.
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version on businesswire.com: http://www.businesswire.com/news/home/20161118005303/en/
Renewable Energy Group, Inc.Anthony Hulen,
703-822-1972anthony.hulen@regi.com
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