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<br>By Leah Douglas<br><br><br>Aug 7 (Reuters) - The U.S. [https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price Environmental Protection] Agency has actually launched investigations into the supply chains of at least two eco-friendly fuel [https://pitchbook.com/profiles/company/51278-86 manufacturers] in the middle of industry concerns that some might be utilizing fraudulent feedstocks for [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 biodiesel] to secure financially rewarding government aids.<br><br><br>EPA spokesperson Jeffrey Landis [https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd informed Reuters] that the agency has released audits over the past year, however declined to [https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd determine] the companies targeted because the investigations are ongoing.<br><br><br>The production of [https://www.google.com/search?kgmid=/m/0cqd_rb biodiesel] from [https://www.investing.com/equities/mission-newenergy-ltd-company-profile sustainable] components, like utilized cooking oil, can earn refiners a slew of state and federal environmental and climate aids, [https://www.investing.com/equities/mission-newenergy-ltd-company-profile including tradable] credits under a program administered by the EPA called the Renewable Fuel [https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608 Standard]. But fears have been mounting that some materials identified as utilized cooking oil are actually more affordable and less [https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608 sustainable virgin] palm oil, a [https://www.businessnews.com.au/Company/Mission-NewEnergy product] that is connected with deforestation and other environmental damage.<br><br><br>The issue came into focus following a rise in [https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price utilized cooking] oil exports from Asia recently that experts have stated includes unrealistically high volumes relative to the amount of cooking oil utilized and [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 recovered] in the area. The European Union is also investigating feedstocks over the scams issues.<br><br><br>The EPA audits started after the firm upgraded domestic supply-chain accounting requirements in July 2023 for eco-friendly fuel manufacturers seeking to earn credits under the RFS, he said.<br><br><br>"EPA has actually performed audits of sustainable fuel manufacturers since July 2023 which includes, to name a few things, an examination of the locations that utilized cooking oil utilized in renewable fuel production was gathered," he stated. "These investigations, however, are ongoing and we are unable to talk about ongoing enforcement investigations."<br><br><br>U.S. senators from farm states have [https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608 required] more oversight of [https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4 biofuel] feedstocks, saying federal agencies need to be as [https://forest500.org/rankings/companies/mission-newenergy-limited rigorous] in [https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price validating imports] as they are [https://www.marketscreener.com/quote/stock/MISSION-NEWENERGY-LIMITED-178469/company/ auditing]  chains.<br><br><br>"The Biden administration has actually created vigorous standards to verify, not just trust, American manufacturers, and it is necessary that the same scrutiny is applied to imported feedstocks," 6 U.S. senators, led by Roger Marshall and [https://www.investing.com/equities/mission-newenergy-ltd-company-profile Sherrod] Brown, wrote in a June 20 letter to [https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608 federal firms].<br><br><br>Another letter from 15 senators to the Treasury Department on July 30 urged the administration to exclude imported feedstocks like UCO from an extra clean [https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html fuel tax] credit program passed in the Inflation Reduction Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>

<br>By Leah Douglas<br><br><br>Aug 7 (Reuters) - The U.S. [https://www.nasdaq.com/market-activity/ipos/overview?dealId=804419-65608 Environmental Protection] Agency has actually [https://pitchbook.com/profiles/company/51278-86 introduced investigations] into the supply chains of a minimum of 2 renewable fuel producers in the middle of [https://www.crunchbase.com/organization/mission-newenergy market concerns] that some might be using fraudulent feedstocks for [https://www.abnnewswire.net/companies/en/31347/%E0%B8%9A%E0%B8%A3%E0%B8%B4%E0%B8%A9%E0%B8%B1%E0%B8%97-Mission-NewEnergy-%E0%B8%88%E0%B8%B3%E0%B8%81%E0%B8%B1%E0%B8%94.html/4 biodiesel] to [https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/ protect lucrative] federal [https://stocktwits.com/symbol/MNEL government aids].<br><br><br>EPA representative Jeffrey Landis told Reuters that the firm has released audits over the previous year, however decreased to recognize the business targeted due to the fact that the examinations are ongoing.<br><br><br>The production of [https://www.proactiveinvestors.com.au/ASX:MBT/Mission-NewEnergy-Ltd biodiesel] from sustainable components, like utilized cooking oil, can make refiners a variety of state and federal environmental and environment subsidies, consisting of tradable credits under a [https://biodieselmagazine.com/articles/felda-global-buys-missions-kuantan-port-plant-for-11-5-million-9053 program administered] by the EPA called the [https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/ Renewable Fuel] Standard. But worries have been mounting that some supplies labeled as utilized cooking oil are in fact  and less sustainable virgin palm oil, a product that is connected with deforestation and other environmental damage.<br><br><br>The concern entered into focus following a surge in utilized cooking oil exports from Asia in recent years that analysts have stated involves [https://pitchbook.com/profiles/company/51278-86 unrealistically] high [https://www.intelligentinvestor.com.au/shares/asx-mbt/mission-newenergy-limited/share-price volumes relative] to the amount of cooking [https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html oil utilized] and recuperated in the area. The European Union is also investigating feedstocks over the fraud issues.<br><br><br>The EPA audits started after the agency updated domestic supply-chain accounting requirements in July 2023 for [https://www.businessnews.com.au/Company/Mission-NewEnergy sustainable fuel] manufacturers seeking to make [https://www.bloomberg.com/profile/company/MNELF:US credits] under the RFS, he stated.<br><br><br>"EPA has conducted audits of renewable fuel manufacturers considering that July 2023 that includes, among other things, an examination of the areas that utilized cooking oil utilized in renewable fuel production was gathered," he said. "These investigations, nevertheless, are ongoing and we are unable to go over ongoing enforcement investigations."<br><br><br>U.S. senators from farm states have called for more oversight of [https://www.zoominfo.com/c/mission-newenergy/346542889 biofuel] feedstocks, saying federal firms need to be as strenuous in validating imports as they are auditing domestic supply chains.<br><br><br>"The Biden administration has created energetic standards to validate, not just trust, American producers, and it is important that the very same examination is used to imported feedstocks," six U.S. senators, led by [https://www.zoominfo.com/c/mission-newenergy/346542889 Roger Marshall] and [https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/ Sherrod] Brown, wrote in a June 20 letter to [https://www.zonebourse.com/cours/action/MISSION-NEWENERGY-LIMITED-8557641/ federal agencies].<br><br><br>Another letter from 15 senators to the [https://www.proactiveinvestors.co.uk/companies/news/159346/mission-newenergy-delivers-maiden-biodiesel-production-to-global-oil-major-24476.html Treasury Department] on July 30 prompted the [https://www.sec.gov/Archives/edgar/data/1463471/000165495419013063/R31.htm administration] to leave out imported feedstocks like UCO from an additional clean fuel tax credit program passed in the [https://www.investing.com/equities/mission-newenergy-ltd-company-profile Inflation Reduction] Act. (Reporting by Leah Douglas in Washington Editing by Richard Valdmanis and Matthew Lewis)<br>