Acquiring Renewable Fuel Capabilities
Global energy leaders are charting their own paths to a lower-carbon economy. In June 2022, Chevron acquired Renewable Energy Group (REG), a leading innovator in the renewable fuels industry REG helped pioneer. The transaction created Renewable Fuels - REG, Chevron’s new renewable fuels business. The new business combines REG’s growing renewable fuels production, including 11 biorefineries across the US and Europe, and leading feedstock capabilities, with Chevron’s large manufacturing, distribution and commercial marketing position. As Chevron’s financial advisor for this transaction, Goldman Sachs helped Chevron acquire a renewable fuels business that is expected to help expand its carbon solutions offering to customers and accelerate Chevron’s progress toward its goal to grow its renewable fuels production capacity to 100,000 barrels per day by 2030.