Darling Ingredients Inc. Announces Avfuel Corporation Takes First Delivery of Sustainable Aviation Fuel produced by Diamond Green Diesel

Rhea-AI Summary

Darling Ingredients announced that Avfuel received its first delivery of sustainable aviation fuel (SAF) produced by Diamond Green Diesel (DGD), a joint venture between Darling and Valero Energy. Naples Aviation became the first location in eastern US to offer DGD's SAF for general sale.

The SAF, produced from waste-based feedstocks like used cooking oil, animal tallow, and distiller's corn oil, can reduce greenhouse gas emissions by up to 80% compared to conventional jet fuel. DGD's Port Arthur facility made its first SAF shipment on Nov. 16, with approximately 50% of its 470 million gallon annual capacity converted to SAF production.

Positive

• DGD facility converts 235 million gallons (50% of 470M capacity) to SAF production
• SAF reduces greenhouse gas emissions by up to 80% compared to conventional jet fuel
• Strategic expansion into eastern US market through Avfuel partnership
• Successful operational launch of SAF production at Port Arthur facility

Negative

• 50% reduction in conventional fuel production capacity due to SAF conversion

News Market Reaction

+0.81%

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+0.81% News Effect

On the day this news was published, DAR gained 0.81%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

IRVING, Texas, Dec. 10, 2024 /PRNewswire/ -- Darling Ingredients Inc. (NYSE: DAR), the world's leading company turning food waste into sustainable products and producer of renewable energy, today announced that Avfuel Corporation, the leading independent supplier of aviation fuel and services, took the first delivery of sustainable aviation fuel (SAF) produced by Diamond Green Diesel (DGD), a 50/50 joint venture between Darling Ingredients and Valero Energy Corporation (NYSE: VLO, "Valero").

Naples Aviation (KAPF) accepted Avfuel's delivery of SAF, marking the fuel supplier's first network location to offer SAF for general sale in the eastern United States. Naples Aviation's SAF delivery comes on the heels of a SAF supply agreement between Avfuel and Valero Marketing and Supply Company, a subsidiary of Valero.

Produced from waste-based feedstocks, such as used cooking oil, animal tallow and distiller's corn oil, neat SAF produced by DGD has an estimated lifecycle greenhouse gas emission reduction of up to 80%, compared to conventional jet fuel.

"As the world's largest producer of SAF made from waste-based feedstocks, DGD is leading the way in reducing aviation's carbon footprint and accelerating the decarbonization of the aviation sector," said Randall C. Stuewe, Darling Ingredients Chairman and Chief Executive Officer. "This milestone proves that we can transform waste into renewable energy at an unprecedented scale, driving meaningful progress toward a more sustainable future."

DGD's Port Arthur, Texas, facility loaded its first SAF shipment on Nov. 16. The facility has converted approximately 50% of its annual 470 million gallon capacity to SAF and is expected to be one of the largest SAF manufacturers in the world.

About Darling Ingredients
A pioneer in circularity, Darling Ingredients Inc. (NYSE: DAR) takes material from the animal agriculture and food industries, and transforms them into valuable ingredients that nourish people, feed animals and crops, and fuel the world with renewable energy. The company operates over 260 facilities in more than 15 countries and processes about 15% of the world's animal agricultural by-products, produces about 30% of the world's collagen (both gelatin and hydrolyzed collagen), and is one of the largest producers of renewable energy. To learn more, visit darlingii.com. Follow us on LinkedIn.

Cautionary Statements Regarding Forward-Looking Information
This release may contain "forward-looking statements," which include information concerning the Company's plans, objectives, goals and strategies and other information that is not historical information. When used in this release, the words "expects" and "will" and variations of such words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon current expectations and beliefs and various assumptions. There can be no assurance that the Company will realize these expectations or that these beliefs will prove correct. There are a number of risks and uncertainties that could cause actual results to differ materially from the results expressed or implied by the forward-looking statements contained in this release. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

Darling Ingredients Contacts
Investors:	Suann Guthrie
	Senior VP, Investor Relations, Sustainability & Communications
	(469) 214-8202; suann.guthrie@darlingii.com
Media:	Jillian Fleming
	Director, Global Communications
	(972) 541-7115; jillian.fleming@darlingii.com

 

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SOURCE Darling Ingredients Inc.

FAQ

What is the production capacity of Diamond Green Diesel's SAF facility for Darling (DAR)?

DGD's Port Arthur facility has converted approximately 235 million gallons (50%) of its 470 million gallon annual capacity to SAF production.

How much does Darling's (DAR) SAF reduce greenhouse gas emissions?

The SAF produced by DGD reduces greenhouse gas emissions by up to 80% compared to conventional jet fuel.

When did Diamond Green Diesel make its first SAF shipment for Darling (DAR)?

DGD's Port Arthur facility loaded its first SAF shipment on November 16, 2024.

What feedstocks does Darling (DAR) use to produce SAF?

Darling produces SAF from waste-based feedstocks, including used cooking oil, animal tallow, and distiller's corn oil.