Darling Ingredients (DAR) is a food processing company that operates food, feeds, and fuels segments. Valero Energy (VLO) is an independent refining and ethanol production company. The two firms operate a 50/50 joint venture under the name Diamond Green Diesel [DGD] that converts lipids, including waste products, to hydrocarbons in the form of renewable diesel. DGD currently produces 275 million gallons per year [MGY] of renewable diesel at a single facility in Louisiana following an expansion last year from its original 160 MGY capacity.
After the expansion to 275 MGY was