Tesla seeks entry into US renewable fuel credit market: Sources
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Last Updated: May 12, 2021, 04:08 PM IST
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Synopsis
The electric car maker is one of at least eight companies with a pending application at the Environmental Protection Agency tied to power generation and renewable credits, the sources said. The EPA produces a list of pending applications with some details, but not companies names.
Tesla s entry could potentially reshape the renewable credit market, established in the mid-2000s to boost investment in the U.S. biofuel industry.
Tesla Inc is seeking to enter the multi-billion dollar U.S. renewable credit market, hoping to profit from the Biden administration s march toward new zero-emission goals, two sources familiar with the matter said.
Wednesday, 12 May 2021 07:03 PM MYT
The logo of US car manufacturer Tesla is seen in Zurich July 14, 2016. Reuters pic
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NEW YORK, May 12 Tesla Inc is seeking to enter the multi-billion dollar US renewable credit market, hoping to profit from the Biden administration’s march toward new zero-emission goals, two sources familiar with the matter said.
The electric car maker is one of at least eight companies with a pending application at the Environmental Protection Agency tied to power generation and renewable credits, the sources said. The EPA produces a list of pending applications with some details, but not companies’ names.
(Savage/Globe Newswire) Savage, a global industry infrastructure and supply chain services company, in business for 75 years, announced today the formation of a team to lead the buildout of renewable energy assets and services. The Company is already engaged with partners on multiple renewable fuel projects to purchase, source and deliver feedstock to refineries; provide engineering and construction of terminals and other assets; and evaluate ways to drive out inefficiencies and increase value across Customers’ supply chains.
“We’ve seen a dramatic increase in demand for our team’s expertise and experience across our three verticals agriculture merchandising and logistics, energy and chemical infrastructure, and environmental services to develop renewable energy projects,” said Kirk Aubry, Savage president and CEO. “Our team has proven we can reduce inefficiencies in renewable fuels markets and create significant value for producers and consumers.”
On May 5, 2021, the U.S. Environmental Protection Agency (EPA) published a notice of disclosure to all obligated parties under the Renewable Fuel Standard (RFS) program that have submitted small refinery exemption (SRE) petitions and to all parties whose RFS information otherwise resides in EPA’s Moderated Transaction System (EMTS). EPA’s action is in response to a U.S. Government of Accountability Office (GAO) request to disclose such information that has been submitted to EPA that claims to be, or is determined to be, confidential business information (CBI). The information to be disclosed includes documents and data related to SRE petitions received by EPA since the beginning of the RFS program through the present. Such records include:
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