Biodiesel (FAME — Fatty Acid Methyl Ester)

Formerly Renewable Energy Group (REG), acquired by Chevron Corporation (NYSE: CVX) in June 2022 for $3.15B — making Chevron the largest U.S. biodiesel producer through one acquisition. REG was the largest independent U.S. biodiesel company with 11 production facilities and ~90 million gallon/year capacity when acquired. Now operates as Chevron Renewable Energy Group, the renewable fuels arm of one of the world's largest oil companies. Produces FAME biodiesel from soybean oil, canola, and used cooking oil (UCO). Geismar, Louisiana facility is one of North America's largest biodiesel plants. The same oil major that produces and refines petroleum also now makes the renewable biodiesel blended into that petroleum — vertically integrated from fossil to renewable.

Agricultural commodity giant (NYSE: ADM, HQ Chicago); one of the largest U.S. biodiesel producers from soybean oil and corn oil. Operates biodiesel plants at Velva ND, Columbus NE, and other locations integrated with soy processing operations — ADM crushes soybeans for oil (which becomes biodiesel) and meal (which becomes animal feed). The same company that makes high-fructose corn syrup, soy protein isolate, and livestock feed ingredients also produces a significant share of U.S. biodiesel. ADM biodiesel benefits from vertical integration with agricultural commodity trading and soy crushing.

Finnish state-controlled oil refiner (NASDAQ HEL: NESTE); world's largest producer of renewable diesel (HVO — Hydrotreated Vegetable Oil) and one of the largest FAME biodiesel producers. Primary renewable diesel facilities at Porvoo (Finland), Rotterdam (Netherlands), Singapore. Neste produces both FAME biodiesel AND HVO renewable diesel — HVO is chemically different from FAME but serves similar renewable fuel markets. Neste also produces petroleum-derived fuels and aviation fuel. Finland's state oil company became the world leader in renewable diesel by pivoting from fossil fuel production — same company, different product line, 20-year technology development.

Global commodity trading and processing company (HQ Amsterdam, privately held by the Dreyfus family); produces FAME biodiesel at Rotterdam (Netherlands) — one of Europe's largest biodiesel plants at ~600,000 tonnes/year capacity — from rapeseed (canola) oil, palm oil, and waste/residue feedstocks. Louis Dreyfus controls one of the world's largest rapeseed crushing and biodiesel supply chains. The same global commodity trader that trades wheat, sugar, coffee, and cotton for major food companies also operates one of the largest European biodiesel facilities.

Publicly traded MLP and one of the Northeast's largest independent wholesale distributors of heating oil, gasoline, and diesel. Operates ~55 terminals with ~22 million barrels of aggregate storage. The Albany, NY terminal is a critical redistribution hub for the Hudson Valley and New England interior.

One of New England's largest independent energy distributors, founded in 1870. Operates 50+ petroleum product storage and distribution terminals across the northeastern US and maritime Canada, with approximately 15 million barrels of total capacity. Wholly owned by Hartree Partners LP since 2022.