Who owns Diamond Green Diesel Holdings LLC (DGD)

Diamond Green Diesel Holdings LLC (DGD) - Profile

Diamond Green Diesel Holdings is the renewable fuels joint venture of Valero Energy and Darling Ingredients. It converts waste and low carbon feedstocks (animal fats, used cooking oil, recycled greases, inedible corn oil and vegetable oils) into renewable diesel and sustainable aviation fuel. Darling supplies and pretreats feedstock from its rendering and used cooking oil collection network, while Valero contributes refinery sites, hydrogen and utilities, logistics and fuel marketing. DGD runs two plants sited next to Valero refineries: one beside the St. Charles Refinery in Norco, Louisiana and one beside the Port Arthur Refinery in Port Arthur, Texas, with combined renewable diesel capacity of roughly 1.2 billion gallons a year, produced using the Ecofining hydroprocessing and isomerization process licensed from UOP. A sustainable aviation fuel unit completed at Port Arthur at the end of 2024 lets that plant upgrade about half of its 470 million gallon capacity into up to 235 million gallons of neat SAF a year.

The disclosed stakes

One row per position. Where a holder reports the same company in two share classes, both rows are shown rather than summed, because the class is part of a position's identity.

Where each figure comes from

A private stake has no ownership form behind it, so the source is always the holder's own filing or disclosure. Anything modelled says so, with the arithmetic.

• Valero Energy Corporation. Valero is a 50 percent joint venture member in DGD alongside a subsidiary of Darling Ingredients Inc. Valero CONSOLIDATES DGD rather than accounting for it at equity: the FY2025 10-K (Note 12, Variable Interest Entities) states Valero determined DGD is a VIE because Valero's operations agreement (under which Valero operates both DGD plants as an independent contractor) conveys the power to direct DGD's most significant activities, separate from ownership rights, and that combined with the 50 percent ownership interest makes Valero the primary beneficiary. The Q2 FY2026 10-Q reconfirms: 'We are a 50 percent joint venture member in DGD and consolidate its financial statements.' Because DGD is fully consolidated, Valero's balance sheet carries 100 percent of DGD's assets, liabilities, revenue, and expenses; there is no separate equity-investment carrying value for DGD to record as value_usd here, so it is left null rather than estimated. This is the opposite accounting treatment from ConocoPhillips's equity-method LNG joint ventures. sourcesource 2