Chevron Renewable Energy Group will lay off 70 employees at its Ames, Iowa plant next month. The layoffs, effective June 18, were reported on the Iowa Worker Adjustment and Retraining Notification (WARN) website, reports Biofuels international.
The job cuts come during a period of uncertainty for the biodiesel industry. Several Iowa-based biodiesel facilities have paused operations, citing a lack of clear guidance on the federal 45Z tax credit and concerns about current Renewable Volume Obligation (RVO) levels.
Earlier this year, Chevron shut down two of its biodiesel plants in the Midwest, also pointing to weak market conditions tied to low biodiesel demand under the Renewable Fuel Standard.
In a statement, a Chevron spokesperson said, “Chevron is taking action to simplify our operating model, execute work faster and more effectively, and position the company for long-term competitiveness. This is a difficult decision, and we do not make it lightly.”
The company added that it will provide severance packages and job placement support to help affected employees transition.
