NV: Ryze Renewables, Phillips 66 Partner, Build Renewable Diesel Fuel Plants
29 Aug, 2018
Ryze Renewables announced that construction is underway for two renewable diesel production facilities in Nevada. Once operational, these plants will manufacture high-cetane renewable diesel fuel from agricultural oils and animal fats, using a patented hydrogenation technology that is more efficient than current conversion processes.
When completed, the two Ryze Renewables facilities are expected to produce a combined 11,000 barrels per day (BPD) of renewable diesel fuel for Western U.S. and Canadian markets.
“We are excited to be building the next generation of renewable fuel plants,” said Matt Pearson, Ryze Renewables managing director. “The output of these facilities will help businesses and motorists achieve the ever-increasing demand for renewable fuels on the West Coast.”
For this project, Ryze Renewables has partnered with Phillips 66 (NYSE: PSX), an energy manufacturing and logistics company. Through a long-term supply and offtake agreement, Phillips 66 will supply both plants with feedstock and move 100 percent of the renewable product from the plants to customers in West Coast markets.
“These innovative Nevada plants are strategically located to provide our western customers with an efficient, reliable source of renewable diesel fuels,” said Brian Mandell, senior vice president, marketing and commercial, Phillips 66.
Renewable diesel fuel is a “drop-in” fuel that does not need to be blended with traditional diesel like current biodiesels. Additionally, producing renewable diesel has lower overall emissions than other biofuels, which translates to a low carbon intensity (CI) score and maximizes the low-carbon fuel standard (LCFS) credit from the California Air Resources Board.
The first plant in Reno is expected to come online in mid-2019, while the second facility in Las Vegas will become operational starting in early 2020.
Construction of the two plants is expected to create more than 750 construction jobs, and once completed, will add more than 140 permanent full-time positions in the Reno and Las Vegas areas.
About Ryze Renewables
Ryze Renewables is a producer of renewable fuels from non-edible renewable and waste feedstocks. Its products allow customers to lower their carbon footprint using high-quality fuels that are 100% American made. For more information, visit www.ryzerenewables.com.
About Phillips 66
Phillips 66 is a diversified energy manufacturing and logistics company. With a portfolio of Midstream, Chemicals, Refining, and Marketing and Specialties businesses, the company processes, transports, stores and markets fuels and products globally. Phillips 66 Partners, the company's master limited partnership, is integral to the portfolio. Headquartered in Houston, the company has 14,400 employees committed to safety and operating excellence. Phillips 66 had $55 billion of assets as of June 30, 2018. For more information, visit http://www.phillips66.com or follow us on Twitter @Phillips66Co.