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Call for speaker abstracts now open for the 2025 International Biomass Conference & Expo

October 30, 2024

BY BBI International

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CVR reports profitable Q3 for renewable diesel, continues to evaluate SAF project

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By Erin Voegele

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CVR Energy Inc. on Oct. 29 announced that the renewable diesel unit at its Wynnewood refinery in Oklahoma processed 19.6 million gallons of vegetable oil feedstock during the third quarter, down from 23.8 million gallons during the same period of 2023.

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The USDA on Oct. 29 announced it is awarding $39 million in grants to more than three dozen projects under its Higher Blends Infrastructure Incentive Program to support increased availability of ethanol and biodiesel.

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The USDA on Oct. 29 announced it is allocating $200 million to the newly created Biobased Product Market and Access Grant Program, which will support innovative biobased technologies and bridge the gap between pilot-scale demonstrations and commercial viability.

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Phillips 66 on Oct. 29 reported that its renewable fuels segment was impacted by lower margins during Q3, but company officials expect margins to improve moving forward. The company also reported it began producing SAF in September.

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SAF offers a significant opportunity for growth in the biofuel sector and a new revenue stream for farmers, but realizing that potential will depend on the establishment of favorable policies and adequate incentives, according to CoBank.

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