CVR Energy Inc. on July 30 reported its renewables segment achieved increased throughput during the second quarter despite unplanned downtime, but reported a net loss of $11 million. The company expects to retroactively claim the 45Z clean fuel production credit for volumes produced.&nbsp;CVR Energy’s renewable segments includes operations of the renewable diesel unit and renewable feedstock pretreater at its refinery in Wynnewood, Oklahoma.&nbsp;&nbsp;The renewables segment reported a second quarter net loss of $11 million and EBITDA loss of $5 million, unchanged when compared to the net loss of $11 million and EBITDA loss of $5 million reported for the same period of last year. Adjusted EBITDA loss was $4 million, compared to $2 million.&nbsp;Total vegetable oil throughput for the second quarter of 2025 was approximately 155,000 gallons per day, up from 127,000 gallons per day during the same period of 2024. The 155,000 gallons per day of throughput equates to approximately 14 million gallons for the full quarter.&nbsp;Renewables margin was $5&nbsp;million, or 38 cents per vegetable oil throughput gallon, for the second quarter of 2025 compared to $5&nbsp;million, or 43 cents per vegetable oil throughput gallon, for the second quarter of 2024. Factors contributing to the company’s second quarter 2025 renewables margin were higher net sales of $13&nbsp;million resulting from increased production and sales volumes, increased renewable diesel yield due to improved catalyst performance, and increased biomass-based diesel renewable identification number (RIN) and Low Carbon Fuel Standard credit prices in the current period, partially offset by the loss of the blenders tax credit (BTC) in the current period and a decrease in average CARB ULSD prices of 24 cents per gallon. Higher net sales were partially offset by higher cost of sales of $12&nbsp;million due to an increase in throughput and production volumes.During a second quarter earnings call held July 31, CVR Energy President and CEO David Lamp noted the company did not recognize any 45Z credit benefit during the quarter as it continues to wait for the IRS to issue final regulations. Lamp also noted the company believes it will have the ability to retroactively claim the credit once regulations are finalized.&nbsp;According to Lamp, the renewables segment has been operating at near breakeven on an adjusted EBITDA basis year-to-date, with the loss of the BTC and increase in soybean oil pricing mostly being offset by increased RIN prices. CVR currently assumes the 45Z credit will boost adjusted EBITDA for the renewables segment by $6 million for the first half of 2025.Regarding operations at Wynnewood, Lamp said the company has ordered its next load of renewable diesel catalyst and currently plans to remain in renewable diesel production as it awaits 45Z guidance and other potentially positive changes from the One Big Beautiful Bill. “We’ll also continue to weigh all options for the future of our renewable business,” he said, reiterating comments made earlier this year that the company remains fully willing to participate in the renewables space, but cannot invest additional time or capital without further assurances from the government it will support the business it created.Lamp’s comments are in reference to plans the company was previously considering to convert Wynnewood to sustainable aviation fuel (SAF) production and potentially add SAF and renewable diesel capacity to its Coffeyville refinery in Kansas. In February, Lamp <a href="https://biomassmagazine.com/articles/cvr-pauses-development-of-potential-saf-projects-pending-regulatory-tax-credit-clarity">announced</a> CVR would pause those plans pending clarity on the availability and durability of government subsidies.&nbsp;Moving into the third quarter, CVR Energy Chief Financial Officer Dan Newmann said the company expects total renewables throughput to be in the range of 16 to 20 million gallons.&nbsp;

2025-08-01 - CVR Energy reports increased renewables production for Q2 (3 publications)

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CVR Energy Inc. on July 30 reported its renewables segment achieved increased throughput during Q2 despite unplanned downtime but reported a net loss of $11 million. The company expects to retroactively claim the 45Z credit for volumes produced. 

CVR Energy reports increased renewables production for Q2

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