The Andersons is actively seeking deals to take advantage of the fossil-fuel industry’s attempt to go green, reports Bloomberg.
As more oil refiners look to take advantage of government subsidies and switch to renewable diesel, Andersons is considering partnerships ranging from helping to supply ingredients -- like vegetable oil or discarded animal fats -- to more direct pacts with refiners, according to Chief Executive Officer Pat Bowe.
The Andersons already produces corn oil, a byproduct of its ethanol venture with Marathon Petroleum Corp., and last year set up a trading desk to buy and sell raw materials like soy oil and tallow, putting it in a prime position to gain from the burgeoning renewable diesel trend.
