{"id":727385,"date":"2023-01-31T16:27:09","date_gmt":"2023-01-31T21:27:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/diamond-green-diesel-dgd-approves-a-sustainable-aviation-fuel-project-at-port-arthur-texas\/"},"modified":"2023-01-31T16:27:09","modified_gmt":"2023-01-31T21:27:09","slug":"diamond-green-diesel-dgd-approves-a-sustainable-aviation-fuel-project-at-port-arthur-texas","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/diamond-green-diesel-dgd-approves-a-sustainable-aviation-fuel-project-at-port-arthur-texas\/","title":{"rendered":"Diamond Green Diesel (DGD) Approves a Sustainable Aviation Fuel Project at Port Arthur, Texas"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Diamond Green Diesel (DGD) Approves a Sustainable Aviation Fuel Project at Port Arthur, Texas<\/b><\/p>\n<p>SAN ANTONIO&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nValero Energy Corporation (NYSE: VLO, \u201cValero\u201d) and Darling Ingredients Inc. (NYSE: DAR, \u201cDarling\u201d) announced today that the companies have made the final investment decision on a Sustainable Aviation Fuel (SAF) project at the DGD Port Arthur plant, which is owned and operated by Diamond Green Diesel Holdings LLC, a 50\/50 joint venture between Valero and Darling. Upon completion of the project, which is expected in 2025, the DGD Port Arthur plant will have the capability to upgrade approximately 50 percent of its current 470 million gallon annual production capacity to SAF. The project\u2019s estimated cost is $315 million, with half of that attributable to Valero. With the completion of this project, DGD is expected to be one of the largest SAF manufacturers in the world.\n<\/p>\n<p>\n\u201cThis project is a natural extension of our liquid fuels manufacturing expertise and demonstrates our growth strategy through innovation in renewables,\u201d said Joe Gorder, Valero\u2019s Chairman and Chief Executive Officer. \u201cUnderpinned by strong interest from customers, sustainable aviation fuel provides an economic path to further reduce the carbon intensity of our products while expanding our long-term competitive advantage.\u201d\n<\/p>\n<p><b>About Valero<\/b><\/p>\n<p>\nValero Energy Corporation, through its subsidiaries (collectively, \u201cValero\u201d), is a multinational manufacturer and marketer of petroleum-based and low-carbon liquid transportation fuels and petrochemical products, and sells its products primarily in the United States (\u201cU.S.\u201d), Canada, the United Kingdom (\u201cU.K.\u201d), Ireland and Latin America. Valero owns 15 petroleum refineries located in the U.S., Canada and the U.K. with a combined throughput capacity of approximately 3.2 million barrels per day. Valero is a joint venture member in Diamond Green Diesel Holdings LLC, which owns two renewable diesel plants located in the U.S. Gulf Coast region with a production capacity of approximately 1.2 billion gallons per year, and Valero owns 12 ethanol plants located in the U.S. Mid-Continent region with a combined production capacity of approximately 1.6 billion gallons per year. Valero manages its operations through its Refining, Renewable Diesel, and Ethanol segments. Please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.investorvalero.com&amp;esheet=53294743&amp;newsitemid=20230131006008&amp;lan=en-US&amp;anchor=investorvalero.com&amp;index=1&amp;md5=ab27e9eae7ecf708107d2053e8ba5730\">investorvalero.com<\/a> for more information.\n<\/p>\n<p><b>Safe-Harbor Statement<\/b><\/p>\n<p>\nStatements contained in this release that state Valero\u2019s or management\u2019s expectations or predictions of the future are forward-looking statements intended to be covered by the safe harbor provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The words \u201cbelieve,\u201d \u201cexpect,\u201d \u201cshould,\u201d \u201cestimates,\u201d \u201cintend,\u201d \u201ctarget,\u201d \u201cwill,\u201d \u201cplans,\u201d \u201cforecast,\u201d and other similar expressions identify forward-looking statements. Forward-looking statements in this release include those relating to expected timing of completion, cost and performance of projects, future market and industry conditions, future operating and financial performance, and management of future risks. It is important to note that actual results could differ materially from those projected in such forward-looking statements based on numerous factors, including those outside of Valero\u2019s control, such as legislative or political changes or developments, market dynamics, cyberattacks, weather events, and other matters affecting Valero\u2019s operations or the demand for Valero\u2019s products. These factors also include, but are not limited to, the uncertainties that remain with respect to the Russia-Ukraine conflict, the impact of inflation on margins and costs, economic activity levels, the COVID-19 pandemic, variants of the COVID-19 virus, governmental and societal responses thereto, and the adverse effects the foregoing may have on Valero\u2019s business or economic conditions generally. For more information concerning these and other factors that could cause actual results to differ from those expressed or forecasted, see Valero\u2019s annual report on Form 10-K, quarterly reports on Form 10\u2011Q, and other reports filed with the Securities and Exchange Commission and available on Valero\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.valero.com&amp;esheet=53294743&amp;newsitemid=20230131006008&amp;lan=en-US&amp;anchor=valero.com&amp;index=2&amp;md5=faeed001c1a06705accfb1de77fee6fe\">valero.com<\/a>.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230131006008r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230131006008\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230131006008\/en\/<\/a><\/span><\/p>\n<p><span class=\"bwuline\">Investors<\/span>:<br \/>\n<br \/>Homer Bhullar, Vice President \u2013 Investor Relations and Finance, 210-345-1982<br \/>\n<br \/>Eric Herbort, Director \u2013 Investor Relations, 210-345-3331<br \/>\n<br \/>Gautam Srivastava, Senior Manager \u2013 Investor Relations, 210-345-3992<br \/>\n<br \/><span class=\"bwuline\">Media<\/span>:<br \/>\n<br \/>Lillian Riojas, Executive Director \u2013 Media Relations and Communications, 210-345-5002\n<\/p>\n<p><b>KEYWORDS:<\/b> United States North America Texas<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Other Energy Oil\/Gas Sustainability Environment Other Manufacturing Energy Chemicals\/Plastics Manufacturing<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230131006008\/en\/1047452\/3\/Valero_Color_Stacked_Registered.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Diamond Green Diesel (DGD) Approves a Sustainable Aviation Fuel Project at Port Arthur, Texas SAN ANTONIO&#8211;(BUSINESS WIRE)&#8211; Valero Energy Corporation (NYSE: VLO, \u201cValero\u201d) and Darling Ingredients Inc. (NYSE: DAR, \u201cDarling\u201d) announced today that the companies have made the final investment decision on a Sustainable Aviation Fuel (SAF) project at the DGD Port Arthur plant, which is owned and operated by Diamond Green Diesel Holdings LLC, a 50\/50 joint venture between Valero and Darling. Upon completion of the project, which is expected in 2025, the DGD Port Arthur plant will have the capability to upgrade approximately 50 percent of its current 470 million gallon annual production capacity to SAF. The project\u2019s estimated cost is $315 million, with half of that attributable &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/diamond-green-diesel-dgd-approves-a-sustainable-aviation-fuel-project-at-port-arthur-texas\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Diamond Green Diesel (DGD) Approves a Sustainable Aviation Fuel Project at Port Arthur, Texas&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-727385","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Diamond Green Diesel (DGD) Approves a Sustainable Aviation Fuel Project at Port Arthur, Texas - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/diamond-green-diesel-dgd-approves-a-sustainable-aviation-fuel-project-at-port-arthur-texas\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Diamond Green Diesel (DGD) Approves a Sustainable Aviation Fuel Project at Port Arthur, Texas - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Diamond Green Diesel (DGD) Approves a Sustainable Aviation Fuel Project at Port Arthur, Texas SAN ANTONIO&#8211;(BUSINESS WIRE)&#8211; Valero Energy Corporation (NYSE: VLO, \u201cValero\u201d) and Darling Ingredients Inc. (NYSE: DAR, \u201cDarling\u201d) announced today that the companies have made the final investment decision on a Sustainable Aviation Fuel (SAF) project at the DGD Port Arthur plant, which is owned and operated by Diamond Green Diesel Holdings LLC, a 50\/50 joint venture between Valero and Darling. Upon completion of the project, which is expected in 2025, the DGD Port Arthur plant will have the capability to upgrade approximately 50 percent of its current 470 million gallon annual production capacity to SAF. 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(NYSE: DAR, \u201cDarling\u201d) announced today that the companies have made the final investment decision on a Sustainable Aviation Fuel (SAF) project at the DGD Port Arthur plant, which is owned and operated by Diamond Green Diesel Holdings LLC, a 50\/50 joint venture between Valero and Darling. Upon completion of the project, which is expected in 2025, the DGD Port Arthur plant will have the capability to upgrade approximately 50 percent of its current 470 million gallon annual production capacity to SAF. 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