Wednesday, July 31, 2024
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Darling Ingredients Inc. (NYSE: DAR), a global leader in converting food waste into sustainable products and renewable energy, announced that its joint venture, Diamond Green Diesel (DGD), will begin supplying sustainable aviation fuel (SAF) for commercial flights from John F. Kennedy International Airport (JFK) in the coming months. DGD’s facility in Port Arthur, Texas, will provide an initial 1 million gallons of neat SAF, with the potential to supply an additional 4 million gallons. This SAF will be blended with conventional jet fuel as part of a 12-month agreement between Valero Marketing and Supply Company, a subsidiary of Valero Energy Corporation (NYSE: VLO), and World Fuel Services, a World Kinect (NYSE: WKC) company, with JetBlue (Nasdaq: JBLU) receiving the final blended product.
Darling Ingredients Inc. is a global leader in transforming edible by-products and food waste into sustainable products, playing a significant role in the circular economy. Founded in 1882 and headquartered in Irving, Texas, Darling Ingredients operates in more than 200 locations across 17 countries. The company’s activities include the collection and processing of animal by-products, bakery waste, and used cooking oil, which are then converted into value-added products such as animal feed, biofuels, fertilizers, and various specialty ingredients.
Key Areas of Operation:
- Renewable Energy: Darling Ingredients is a pioneer in producing renewable diesel through its joint venture, Diamond Green Diesel (DGD), with Valero Energy Corporation. This venture has positioned the company as a significant player in the renewable energy sector.
- Sustainable Ingredients: The company produces a range of ingredients for the food, pet food, and pharmaceutical industries, including gelatin, collagen, and natural casings.
- Environmental Services: Darling Ingredients provides a range of services aimed at waste management and environmental sustainability, including rendering and recycling services.
Notable Achievements:
- Diamond Green Diesel: The joint venture is one of the largest renewable diesel producers globally, with an increasing focus on producing sustainable aviation fuel (SAF).
- Global Reach: With a presence in North America, Europe, China, and South America, Darling Ingredients serves a diverse set of industries worldwide.
- Sustainability Commitment: The company is committed to reducing environmental impact by focusing on the full utilization of raw materials, thereby minimizing waste and promoting sustainable practices across its operations.
“Darling Ingredients and its joint venture partner have demonstrated for more than 10 years that DGD is the lowest cost, lowest carbon intensity and most profitable renewables producer in the market,” said Randall C. Stuewe, Chairman and CEO. “Our partner’s technical and operational expertise, coupled with our knowledge and unmatched supply of waste fats and oils, make DGD the leader in decarbonizing the heavy haul transportation and aviation sectors.”
By the fourth quarter of 2024, the DGD Port Arthur plant is anticipated to have the capability to convert approximately 50 percent of its current 470 million gallon annual production capacity to sustainable aviation fuel (SAF). Once this upgrade is complete, DGD is expected to become one of the largest SAF manufacturers globally.