IRVING, Texas, Oct. 27, 2020 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR), today announced that its Diamond Green Diesel (DGD) joint venture has received the necessary air permit from the Texas Commission on Environmental Quality (TCEQ), making construction one step closer on the proposed renewable diesel plant known as DGD III in Port Arthur, Texas. DGD continues to work through its gated project development process and a final investment decision is expected to be reached in early 2021.
"Our timeline to construct an additional 400 million gallons of renewable diesel production in Port Arthur, Texas is on schedule," said Randall C. Stuewe, Chairman and Chief Executive Officer of Darling Ingredients. "DGD is in the process of finalizing Phase III engineering plans and cost estimates to build another state of the art facility. We anticipate that both joint venture partners' Board of Directors will be in a position to approve moving forward with the project in early 2021. As we meet this investment decision timeframe, we believe that DGD III would be operational in 2024."
"Darling's vertically integrated supply chain provides DGD with superior low cost feedstocks, and when combined with the refining expertise of our joint venture partner, supports DGD's position as the lowest cost producer of renewable fuels in North America," Stuewe added.
The current DGD II 400 million gallon plant expansion is still expected to be completed in 2021, bringing the total capacity of DGD to 675 million gallons of renewable diesel production, while also adding 60 million gallons of renewable naphtha production to the platform. With the potential approval of DGD III, Darling's joint venture will have renewable diesel production capacity of 1.1 billion gallons and 100 million gallons of renewable naphtha production capacity annually. Darling continues to lead the world in decarbonization with our stated goals of reducing energy and water consumption over the coming years and the significant reduction in carbon emissions in transport fuels from the usage of renewable diesel produced by DGD across North America and the World.
Darling Ingredients Inc. (NYSE: DAR) is one of the world's leading producers of organic ingredients, producing a wide array of sustainable protein and fat products while being one of the largest producers of renewable clean energy. With operations on five continents, Darling collects waste streams from the agri-food industry, repurposing into specialty ingredients, such as hydrolyzed collagen, edible and feed-grade fats, animal proteins and meals, plasma, pet food ingredients, fuel feedstocks, and green bioenergy. The Company sells its products around the globe and works to strengthen our promise for a better tomorrow, creating product applications for health, nutrients and bioenergy while optimizing our services to the food chain. Darling is a 50% joint partner in Diamond Green Diesel (DGD), North America's largest renewable diesel manufacturer, producing 275 million gallons of renewable diesel annually which products reduce Green House Gas (GHG) emissions by up to 85% compared to fossil fuels. For additional information, visit the Company's website at http://www.darlingii.com. For more information on Darling's ESG efforts, visit http://www.darlingii.com/csr.
Safe Harbor Statement
Some of the statements made in this press release are forward-looking statements. These forward-looking statements are based upon our current expectations and projections about future events and generally relate to our plans, objectives and expectations for the development of our business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release.
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SOURCE Darling Ingredients Inc.