Newton Independent
Renewable Energy Group and third-party plants it manages in Iowa have been awarded more than $1.6 million by the Iowa Department of Agriculture to advance biofuel production.
The awards were given through the USDA's Office of Rural Development in its Bioenergy Program for Advanced Biofuels.
"It's great to see the Department of agriculture working with these Iowa biofuel companies to help lessen our dependence on foreign oil by continuing to develop advanced biofuels here at home," said Sen. Charles Grassley, R-Iowa, in a press release today announcing the awards.
Central Iowa Energy of Newton, now known as REG Newton after shareholders voted to consolidate with REG, was awarded $114,239.69 in economic incentives. REG Ralston and REG Houston will receive more than $727,000.
Three third party plants managed by REG also received awards. Iowa Renewable Energy in Washington was granted more than $216,000 in incentives and Western Dubuque Biodiesel received more than $253,000. Western Iowa Energy in Wall Lake, whose shareholders voted down REG's consolidation plan, will receive more than $298,000.
Three other biofuel companies in Iowa - Maple River Energy in Galva, Riksch Biofuels in Crawfordsville and Sioux Biochemical in Sioux Center - receive approximately $25,000 combined of the total $1,644,242.64 in economic incentives.
Also today, REG announced that its recent consolidation of the biodiesel plant in Newton and another in Danville, Ill, now make the company the largest wholly-owned biodiesel manufacturing business in North America with total capacity of 122 million gallons a year. You can read that release here.
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