Vertex: Renewable diesel unit achieves phase 1 target
SOURCE: Business Wire
July 26, 2023
BY Erin Voegele
Vertex Energy Inc. on July 25 announced the renewable diesel unit at its refinery in Mobile, Alabama, achieved the company’s phase 1 installed capacity target of 8,000 barrels per day during the second quarter.
“We are pleased to report yet another milestone for our RD project: the validation of targeted throughput capacity for the renewable diesel plant at 8,000 barrels per day,” said Benjamin Cowart, president and CEO of Vertex. “We believe this is significant to our growth potential as it further demonstrates our team's ability to execute end-to-end project deliverables safely and reliably.
Vertex in mid-2021 announced an agreement to acquire the Mobile refinery and convert a portion of it to renewable diesel production. The newly completed renewable diesel unit began operations this spring. In late June, Vertex announced it had completed the first series of commercial sales transactions of renewable diesel.
With the Q2 update released on July 25, Vertex confirmed that the renewable diesel unit achieved its installed capacity target during the three-month period. According to the company, the validation of maximum throughput capacity provides important data released to its strategic approach for long-term optimization of the project. Vertex said it is continuing to optimize renewable diesel production levels based on factors such as commercial obligations and prevailing economic conditions and does not anticipate providing near-term throughput targets at this time.
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