Vertex: Renewable diesel unit operates at 67.5% during Q3
November 9, 2023
BY Erin Voegele
Vertex Energy Inc. released third quarter financial results on Nov. 7, reporting its renewable diesel production unit at its refinery in Mobile, Alabama, operated at approximately 67.5 percent of phase one nameplate capacity during the three-month period.
Phase I of Vertex Energy’s renewable diesel project began operations earlier this year and is expected to enable 8,000 barrels per day of production. A planned Phase II development, currently planned for 2024, will include the installation of additional hydrogen capacity, boosting nameplate capacity to 14,000 barrels per day.
James Rhame, chief operating officer of Vertex, said the renewable diesel unit operated smoothly during the quarter. Renewable throughput volumes averaged 5,397 barrels per day during the third quarter, resulting in capacity utilization of approximately 67.5 percent. Total production of renewable diesel for the third quarter averaged 5,297 barrels per day, demonstrating a renewable product yield of 97.8 percent, Rhame added.
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Chris Carlson, chief financial officer of Vertex, said renewable throughput volumes are expected to average 4,000 to 6,000 barrels per day during the fourth quarter, reflecting 50 percent to 75 percent of total phase one capacity.
Vertex continued to advance its alternative feedstock supply strategy during the third quarter, according to the company. Vertex also said it completed the required temporary filing for California Low Carbon Fuel Standard credits at the default carbon intensity (CI) score, and successfully completed runs to support filing for proprietary CI scores for soy, distillers corn oil (DCO) and canola feedstocks. Necessary tallow runs are scheduled to be performed in November. Once completed, those filing will allow Vertex to generate more valuable LCFS credits.
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