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$1.1 Billion Joint Venture Expands Diamond Green Diesel Facility in Norco, Louisiana

Darling Ingredients Inc. will invest $1.1 billion to expand the Diamond Green Diesel facility in Norco, Louisiana. The expansion will increase the facility's production capacity of renewable diesel by an additional 400 million gallons to a total nameplate annual capacity of 675 million gallons.

DGD is a joint venture between subsidiaries of Valero Energy Corporation and Darling Ingredients. Darling Ingredients is a global developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients. Valero Energy Corporation, through its subsidiaries, is an international manufacturer and marketer of transportation fuels and other petrochemical products.

According to company officials, the expansion project will be in the form of a second, independent parallel plant located next to the existing facility; it will also include a renewable naphtha finishing facility to produce approximately 50 to 60 million gallons of renewable naphtha, adding incremental low carbon credit opportunities to the entire DGD operation.

The estimated cost of the entire project, which will include improved logistics capabilities, is $1.1 billion. This capital cost is expected to be funded from cash generated by DGD's operations, company officials explained.

"We are pleased both Boards approved the new investment and plan to commence construction immediately. Our joint venture with Valero exemplifies the combined strength and skills of the largest global independent refiner with the largest low carbon feedstock supplier in the world," stated Randall C. Stuewe, Chairman & CEO of Darling Ingredients Inc.

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