Darling Ingredients Inc. Announces Sustainable Aviation Fuel Contract Through Diamond Green Diesel Joint Venture
Darling Ingredients Inc. (NYSE: DAR), the world’s leading company turning food waste into sustainable products and producer of renewable energy, today announced that its 50/50 joint venture Diamond Green Diesel (DGD) will provide the first regular supply of neat sustainable aviation fuel (SAF), to be blended with conventional jet fuel to create blended SAF, for commercial air travel out of John F. Kennedy International Airport (JFK) to begin in the next few months. DGD’s Port Arthur, Texas, facility will supply 1 million gallons of neat SAF, with the option to supply an additional 4 million gallons, in support of a 12-month blended SAF agreement between Valero Marketing and Supply Company (Valero), a subsidiary of Valero Energy Corporation (NYSE: VLO), and World Fuel Services (World Fuel), a World Kinect (NYSE: WKC) company, with ultimate delivery of such blended SAF by World Fuel to JetBlue (Nasdaq: JBLU).
“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.”
With SAF expected to be on line during fourth quarter 2024, the DGD Port Arthur plant will have the capability to upgrade approximately 50 percent of its current 470 million gallon annual production capacity to SAF. With the completion of this project, DGD is expected to be one of the largest SAF manufacturers in the world.