Chevron Renewable Energy Group, the oil giant’s biodiesel production subsidiary based in Ames, Iowa, is closing two of its production facilities in Iowa and Wisconsin, with more shutdowns potentially coming, according to local news reports in those states.
The company will shutter plants in DeForest, Wisconsin and Ralston, Iowa. The closures are apparently not permanent and the plants could re-open if market conditions change.
Chevron spent $3.15bn to buy REG last year, which included 10 operational plants in the US and Europe, and one renewable diesel project in Louisiana. The DeForest plant was purchased from Sanimax in 2016.
Chevron REG did not respond to requests for comment.
