Exhibit 99.1

Renewable Energy Group Reports Fourth Quarter

and Full Year 2011 Financial Results

Key Achievements

Ames, IA, February 22, 2012 /Business Wire/ - Renewable Energy Group, Inc. (NASDAQ:REGI) announced today its financial results for the fourth quarter and full-year ended December 31, 2011.

For the quarter ended December 31, 2011, Adjusted EBITDA was $29.5 million compared to $5.5 million for the same period in 2010. Revenues were $267 million for the quarter ended December 31, 2011 compared to $70 million during the same period in 2010.

Adjusted EBITDA for the year ended December 31, 2011 was $107 million compared to $8 million for the same period in 2010. Revenues were $824 million for the year ended December 31, 2011 compared to $216 million for the same period in 2010.

“Throughout 2011, Renewable Energy Group demonstrated its capabilities by growing revenues substantially and acquiring and restarting a large biorefinery,” said Daniel J. Oh, President and Chief Executive Officer of REG. “REG efficiently operated six commercial-scale biorefineries this year. By growing and highly utilizing our capacity, we were able to satisfy surging demand and more than triple our revenues compared to 2010.”

Oh added: “Biodiesel demand is growing due to the implementation of Renewable Fuel Standard 2. We are building a business with competitive advantages that can meet this demand. Going into 2012, we believe we are well-positioned as the leading producer of biodiesel from low cost feedstocks in the United States.”

1

Operating Highlights

REG sold 150 million gallons of biodiesel in 2011, an increase of 121% compared to 2010. The increase in gallons sold was primarily due to an increase in biodiesel demand compared to 2010 as petroleum-fuel refiners and importers sought to meet their renewable volume obligations to purchase biomass-based diesel under the Renewable Fuel Standard 2 (“RFS2”) law, which went into effect in mid-2010. RFS2 required the consumption of 800 million gallons of biodiesel in 2011 and requires 1 billion gallons of consumption in 2012.

REG was able to take advantage of this increased demand primarily due to greater capacity utilization and improving throughput at all of its biorefineries, the purchase and restart of a dormant 30 million gallon/year biorefinery in Albert Lea, Minnesota and by having a full year of production from two production lines at its biorefinery at Seneca, Illinois which commenced production in August 2010. The Albert Lea biorefinery was purchased in July 2011, and restarted in August 2011. The fourth quarter of 2011 represented the first full quarter of revenue contribution from the Albert Lea biorefinery. While continuing to operate the Albert Lea biorefinery, REG plans to retrofit the facility to expand its capabilities to run on low cost feedstocks, which is expected to improve its operating margins upon completion.

Throughout 2011, REG’s liquidity improved substantially. Cash grew from $4.3 million as of December 31, 2010 to $33.6 million as of December 31, 2011 as operations generated excess cash flow. On January 24, 2012, REG completed an initial public offering (“IPO”) of shares of common stock in which it sold 6.9 million shares at a price to the public of $10 per share, raising approximately $64 million after fees and expenses. In addition, REG established a 5-year $40 million working capital line of credit with Wells Fargo that replaced a then existing $10 million line of credit. REG also refinanced and extended the Fifth Third Bank term note at the subsidiary that owns the Danville, Illinois biorefinery, while paying off $6.2 million in principal leaving a remaining balance of $15.9 million.

Fourth Quarter 2011 Financial Results

Adjusted EBITDA, defined as earnings before interest, taxes, depreciation and amortization and further adjusted for certain items identified below under “Adjusted EBITDA Reconciliation” was $29.5 million in Q4 2011, a 435% year-over-year increase. The growth reflects improved margins, controlled SG&A growth and increased volumes.

Revenue for the fourth quarter of 2011 was $266.8 million, a 284% increase compared to Q4 2010, due to improved per-gallon pricing and an increase in gallons sold over the previous period. During the quarter, the average B100 price per gallon sold by REG was $5.20, an increase of 41% from Q4 2010. Gallons sold in Q4 2011 increased 126% over Q4 2010 to 47.5 million gallons of biodiesel. Biodiesel pricing and demand improved due to RFS2, higher prices for petroleum-based diesel, higher RIN^* prices, and accelerated demand in Q4 2011 as parties sought to qualify for the federal blender’s tax credit, which expired on December 31, 2011. REG was able to take advantage of increased demand through increased production as a result of greater utilization of its existing refineries, combined with the first full quarter of production from the Albert Lea biorefinery.

2

The table below summarizes REG’s results for Q4 2011 and 2010.

REG Q4 2011 Revenue and Adjusted EBITDA Summary

(dollars and gallons in thousands except per gallon data)

Full Year 2011 Financial Results

Adjusted EBITDA was $107 million in 2011, compared to $8 million in 2010, resulting in an Adjusted EBITDA margin of 13%. Adjusted EBITDA growth reflects the increase in margins, restrained SG&A growth and increased volumes.

Revenue for 2011 was $824 million, a 281% increase over 2010, due to improved per-gallon pricing and an increase in gallons sold over the previous period. For 2011, REG’s average B100 sales price per gallon of biodiesel was $5.23, an increase of 58% over 2010. Gallons sold in 2011 increased 121% compared to 2010, to 150 million gallons. Biodiesel pricing and demand improved due to RFS2, higher prices for petroleum-based diesel and higher RIN^* prices.

REG was able to take advantage of increased demand primarily due to greater capacity utilization and improving throughput at all of its biorefineries, the purchase and restart of a dormant 30 million gallon/year biorefinery in Albert Lea, Minnesota and by having a full year of production from two production lines at its biorefinery at Seneca, Illinois which commenced production in August 2010.

3

The table below summarizes quarterly and year end results for 2010 and 2011.

REG Annual Results Summary

(dollars and gallons in thousands except per gallon data)

The increase in third quarter results is primarily the result of sales seasonality, generally higher RIN prices and REG’s receipt of $9.9 million from the USDA Advanced Biofuel Program.

Basic and diluted earnings per share for 2011 were $3.14 compared to a net loss per share of $4.28 for 2010. Be advised that these calculations are based on REG’s capital structure prior to the recapitalization that occurred in January 2012 in connection with REG’s IPO.

Balance Sheet and Liquidity

Because REG was substantially recapitalized in connection with the IPO, the December 31, 2011 balance sheet information attached to this news release is presented both on a historical basis at year end, and as-adjusted to reflect the impact of the IPO and certain related transactions. The as-adjusted December 31 balance sheet is a non-GAAP presentation.

At December 31, 2011, REG had cash and cash equivalents of $33.6 million and $15.0 million available under the revolving line of credit with Wells Fargo. In addition after year end, cash increased $64 million as a result of the cash proceeds from the IPO, of which $11.0 million was used to purchase the Seneca facility. REG had total assets of approximately $484.4 million prior to the IPO and $536.9 million on an as-adjusted basis. Total debt was $85.6 million at December 31, 2011, which includes $4.0 million outstanding under the Wells Fargo line of credit. In November 2011, REG paid down $6.2 million in connection with the refinancing of the term loan related to the Danville facility. Stockholders’ equity increased from $35.1 million to $120.6 million during 2011 primarily as a result of earnings. When taking into account the IPO and related recapitalization, shareholders’ equity increases to $300.8 million on an as-adjusted basis.

4

Adjusted EBITDA Reconciliation

REG presents Adjusted EBITDA because REG believes it assists investors in analyzing its performance across reporting periods on a consistent basis. In addition, REG uses Adjusted EBITDA to evaluate, assess and benchmark its financial performance on a consistent and comparable basis. REG excludes non-cash stock-based compensation and other non-cash other income (expense) items because it does not believe that they are indicative of REG’s ongoing operating performance. REG’s measure of Adjusted EBITDA might be different than similar financial measures used by other companies. Non-GAAP metrics are not determined in accordance with GAAP and are not a substitute for or superior to financial measures determined in accordance with GAAP. Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by Revenues.

Fourth Quarter Conference Call

REG will sponsor a conference call to discuss results today at 4:30 p.m. EST/3:30 p.m. CST. Daniel J. Oh, President and Chief Executive Officer, and Chad Stone, Chief Financial Officer, will host the call. Investors in the U.S. interested in participating in the live call should dial +1 (888) 339-3522 and enter passcode: 5384310. Those calling from outside the U.S. should dial +1 (719) 325-2493 and use the same passcode: 5384310. A telephone replay will be available approximately two hours after the call concludes through March 7, 2012 by dialing from the U.S. +1 (877) 870-5176, or from international locations +1 (858) 384-5517, and entering passcode: 5384310. A simultaneous live webcast will be available on the Investor Relations section of the REG’s website at http://www.regi.com/investor-relations. The webcast will be archived on the website for one year.

5

About Renewable Energy Group

Renewable Energy Group is a leading North American biodiesel producer with a nationwide distribution and logistics system. Utilizing an integrated value chain model, Renewable Energy Group is focused on converting natural fats, oils and greases into advanced biofuels. With more than 210 million gallons of owned/operated annual production capacity at biorefineries across the country, REG is a proven biodiesel partner in the distillate marketplace.

For more than a decade, REG has been a reliable supplier of biodiesel which meets or exceeds ASTM quality specifications. We sell REG-9000^® biodiesel to distributors so Americans can have cleaner burning fuels that help lessen our dependence on foreign oil. REG-9000^® branded biodiesel is distributed in nearly every state in the U.S. For more information, please visit the REG’s website at http://www.regi.com.

Note Regarding Forward-Looking Statements

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended, including statements regarding increased demand for biodiesel and REG’s ability to take advantage of such an increase, and plans to retrofit facilities and any expected benefits from such actions. These forward-looking statements are based on current expectations, estimates, assumptions and projections that are subject to change, and actual results may differ materially from the forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the effect of governmental programs on our business; government policymaking and mandates relating to renewable fuels; the future price and volatility of feedstocks; the future price and volatility of petroleum and products derived from petroleum; expected future financial performance; our liquidity and working capital requirements; availability of federal and state governmental tax credits and incentives; anticipated trends and challenges in our business and competition in the markets in which we operate; our ability to estimate our feedstock demands and biodiesel sales; our dependence on sales to a limited number of customers and distributors; technological obsolescence; our expectations regarding future expenses; our ability to successfully implement our acquisition strategy; and other risks and uncertainties described from time to time in the REG’s public filings with the Securities and Exchange Commission. The forward-looking statements are made as of the date of this press release and REG does not undertake to update any forward-looking statements.

6

Contacts

7

RENEWABLE ENERGY GROUP, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE YEARS ENDED DECEMBER 31, 2011, 2010 AND 2009

(IN THOUSANDS EXCEPT SHARE AND PER SHARE AMOUNTS)

(Unaudited)

8

RENEWABLE ENERGY GROUP, INC. AND SUBSIDIARIES

SELECTED CONSOLIDATED BALANCE SHEET INFORMATION

AS OF DECEMBER 31, 2011

(IN THOUSANDS)

(Unaudited)

Selected Consolidated Balance Sheet Information (historical and as-adjusted)

The preceding table describes our selected consolidated balance sheet information as of December 31, 2011:

9