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Upgrades to Haverhill, MA facility will bring biodiesel-blending hub
to the Northeast

AMES, Iowa–(BUSINESS WIRE)–Renewable Energy Group (REG) and Broco Oil Company announced today a
partnership to provide cleaner fuel options to heating oil dealers in
the Northeast. The companies are working together to provide a
state-of-the-art blending facility in Haverhill, MA.

“We are thrilled to be partnering with a biofuels producer like REG to
continue to grow our business,” said Robert Brown, owner of Broco Oil
Company. “We believe in the environmental and economic value that
blending biodiesel brings to our business and our customers and we are
passionate about providing a clean and sustainable fuel option.”

The partnership between REG and Broco is an agreement to provide Bioheat®*
from the Haverhill location. Terminal upgrades will include rail
improvements as well as infrastructure to allow for blending
opportunities at the loading rack. The product at this location will be
distilled biodiesel shipped from one of REG’s production facilities. REG
Marketing & Logistics Group, LLC is a qualified supplier and wholesaler
as part of the Massachusetts’ Alternative Energy Portfolio Standard
(APS).

“The partnership between REG and Broco is a great opportunity for both
businesses to deliver a high-quality, cleaner fuel solution to the
Commonwealth of Massachusetts,” said Barry Knox, Director of Blended
Fuels for REG. “This partnership is aligned with our business goal of
delivering blended fuel options to our valued customers.”

If interested in purchasing blended fuel or learning more about
distilled biodiesel, please contact REG representatives Jeff Murdy,
603-498-8762, [email protected],
or Marc MacLean, 603-812-1248, [email protected].

*Bioheat® is a licensed trademark of the National Biodiesel
Board, used with permission.

About Renewable Energy Group

Renewable Energy Group, Inc., (Nasdaq: REGI) is leading the energy
industry’s transition to sustainability by transforming renewable
resources into high-quality, cleaner fuels. REG is an international
producer of cleaner fuels and North America’s largest producer of
biodiesel. REG solutions are alternatives for petroleum diesel and
produce significantly lower carbon emissions. REG utilizes an integrated
procurement, distribution and logistics network to operate 14
biorefineries in the U.S. and Europe. In 2018, REG produced 502 million
gallons of cleaner fuel delivering over 4 million metric tons of carbon
reduction. REG is meeting the growing global demand for lower-carbon
fuels and leading the way to a more sustainable future.

About Broco Oil

Broco Oil, Inc. is a Certified Veteran Owned, DBE, Massachusetts-based
distributor of petroleum products, lubricants, and propane for
commercial, industrial, marine, and residential applications.
Established in 2007 by Robert, a U.S. Navy Seabee veteran, and Angela
Brown, Broco currently has an active customer base of 15,000 commercial
and residential accounts in the Greater Boston area, with specialty
emergency and disaster relief services throughout New England and along
the East Coast. Their Haverhill, MA headquarters offer two rail-served
terminals capable of trans-loading petroleum, steel, and various other
bulk liquids and dry goods. Broco Oil is the proud recipient of the 2019
SBA Veteran Owner Business of the Year.

Note Regarding Forward-Looking Statements:

This press release contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995, as
amended, including statements regarding the REG’s future growth and
value creation. These forward-looking statements are based on current
expectations, estimates, assumptions and projections that are subject to
change, and actual results may differ materially from the
forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to: potential changes in
governmental programs and policies requiring or encouraging the use of
biofuels, including RFS2; availability of federal and state governmental
tax incentives; unanticipated changes in the biomass-based diesel
market; competition in the markets in which we operate; technological
advances or new methods of production or the development of energy
alternatives to biomass-based diesel; our ability to generate revenue
from the sale of fuels on a commercial scale and at a competitive cost,
and customer acceptance of the products produced; unanticipated
construction constraints; and other risks and uncertainties described in
REG’s annual report on Form 10-K for the year ended December 31, 2017,
Form 10-Q for the quarter ended September 30, 2018 and other reports
subsequently filed with the SEC. All forward-looking statements are made
as of the date of this press release and REG does not undertake to
update any forward-looking statements based on new developments or
changes in our expectations.

Contacts

Katie Stanley
Renewable Energy Group
[email protected]
(515)
239-8184