The Love’s Family of Companies and Cargill have entered into a 50/50 joint venture to produce and market renewable diesel – a green fuel experiencing rising demand.
The joint venture – Heartwell Renewables- will result in the construction of a new production plant and more than 50 jobs in Hastings, Neb. The plant will have the ability to produce approximately 80 million gallons annually of renewable diesel.
As part of the joint venture, Cargill will provide feedstock in the form of tallow, a rendered animal fat co-product following protein processing. Once the diesel is produced, Musket, the commodity trading and logistics arm of the Love’s Family of Companies, will transport and market the product in the U.S. Heartwell Renewables will be the only entity of its kind to both produce and market renewable diesel all the way to the retail pump.
“The Heartwell Renewables facility presents an exciting combination of agriculture and renewable energy that will create new jobs and continue to grow our state’s economy,” says Nebraska Gov. Pete Ricketts. “Nebraska is the ideal location for this venture, leveraging our expertise in production agriculture and renewable fuels. I look forward to watching Cargill and Love’s grow this endeavor in Hastings.”
The production process makes renewable diesel chemically identical to petroleum diesel with significant improvements in environmental performance due to its drop in carbon intensity and emissions. Renewable diesel also has a faster combustion speed which brings more power to an engine and has been shown to lead to lower vehicle maintenance.
Heartwell Renewables will employ at least 50 full-time positions in Hastings. Construction is scheduled to begin in the following weeks, and operations should start in the spring of 2023. Once the plant opens, it will be one of only a handful of renewable diesel plants in the U.S., according to the U.S. Energy Department.
