SOURCE: Drax
February 28, 2022
BY Erin Krueger
Advertisement
Advertisement
Drax Group plc released a first quarter trading update on April 30, reporting that the company’s pellet production business is performing well, with a continued focus on cost reduction in its U.S. operations.
Valero Energy Corp. on April 30 released first quarter financial results, reporting a profitable three-month period for both its ethanol segment and Diamond Green Diesel joint venture, which produces renewable diesel and SAF.
Rep. Mike Carey, R-Iowa, has introduced the Strengthening Economic and Energy Development Act, a bill that aims to reinstate the $1 per gallon 40A biodiesel tax credit through 2029. Taxpayers could claim either the 40A credit or the 45Z credit.
U.S. manufacturers produced approximately 900,000 tons of densified biomass fuel in November, according to the U.S. EIA’s Monthly Densified Biomass Fuels Report. Sales of densified biomass fuel reached 970,000 tons during the month.
The government of Queensland, Australia, has announced it will invest $25 million to support a project that will enable renewable diesel production at Ampol’s Lytton oil refinery. The project could expand in the future to include SAF production.