IRVING, Texas, Oct 17, 2024 /PRNewswire/ — Darling Ingredients Inc. (NYSE: DAR), the global leader in transforming food waste into sustainable products and renewable energy producer, today announced the formation of its 50/50 joint venture Diamond green diesel (DGD) will provide the supply of clean, sustainable aviation fuel (SAF) blended with conventional jet fuel and delivered to Chicago Midway International Airport (MDW).

Under the two-year supply agreement between Valero Marketing and Supply Company (Valero), a subsidiary of Valero Energy Corporation (NYSE: VLO), and Southwest Airlines Co. (NYSE: LUV) (Southwest), Southwest will purchase at least $100,000 3, 6 million gallons of pure SAF (approximately 12 million gallons blended) for use in its operations as early as the fourth quarter of 2024, with the option to purchase up to 25 million gallons of pure SAF (approximately 84 million gallons blended) over the term of the agreement .

The pure SAF is expected to be produced from waste-based raw materials such as used cooking oil, animal tallow and corn oil, with life cycle greenhouse gas emissions reduced by up to 80% compared to conventional jet fuel. In addition, the SAF is expected to be certified at the batch level through a CORSIA-recognized Sustainability Certification Scheme (SCS), allowing Southwest to provide third-party verification that the SAF meets or exceeds all requirements of Southwest's SAF policy.

“We continue to build momentum in SAF sales and solidify our position as the preferred manufacturer in the industry,” he said Randall C. StueweChairman and CEO. “With a strong track record and growing demand, we are confident that our contracts will continue to expand, underscoring our commitment to being the most cost-effective and reliable SAF producer in the market.”

With SAF expected to begin operations in the fourth quarter of 2024, the DGD Port Arthur facility will be able to convert approximately 50 percent of its current production capacity of 470 million gallons per year to SAF. With the completion of this project, DGD is expected to be one of the largest SAF manufacturers in the world.

About Darling Ingredients
A pioneer of the circular economy, Darling Ingredients Inc. (NYSE: DAR) takes materials from the livestock and food industries and transforms them into valuable ingredients that feed people, nourish animals and crops, and power the world with renewable energy. The company operates over 260 facilities in more than 15 countries and processes approximately 15% of the world's animal agricultural by-products, produces approximately 30% of the world's collagen (both gelatin and hydrolyzed collagen), and is one of the largest producers of renewable energy. To find out more, visit darlingii.com. Follow us on LinkedIn.

Cautionary Notes Regarding Forward-Looking Information
This press release may contain “forward-looking statements,” including information regarding the Company's plans, objectives, goals and strategies and other information that is not historical information. When used in this press release, the words “expect” and “will” and variations of these words or similar expressions are intended to identify forward-looking statements. All forward-looking statements are based on current expectations and beliefs and various assumptions. There can be no assurance that the Company will meet these expectations or that these beliefs will prove to be correct. There are a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements contained in this press release. Any forward-looking statement speaks only as of the date on which it is made, and the Company undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made or to reflect the occurrence of anticipated or unanticipated events or circumstances.

SOURCE Darling Ingredients Inc.

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