Neste Oil Corporation
4 March 2015 at 9.30 a.m. (EET)
Neste Oil now the world's largest producer of renewable fuels from waste and residues
Over the last few years, Neste Oil has become the world's largest producer of renewable fuels from waste and residues. In 2014, the company produced nearly 1.3 million tonnes (1.6 billion liters) of renewable fuel from waste and residues. In practical terms, this is enough to power for two years all the 650 000 diesel-powered passenger cars in Finland with renewable NEXBTL diesel manufactured from waste and residues.
"We can be really proud that we have succeeded in increasing our use of waste and residue-based feedstocks in the production of renewable NEXBTL fuels to such a significant extent. Thanks to this, Neste Oil has in just a few years become the world's largest circular economy enterprise in the biofuels sector. The production of fuels from waste-based feedstock is resource-efficient, and our aim is to have the capability to use 100% waste and residues by 2017. We are constantly searching for new waste-based raw materials of increasingly poorer quality, and use the majority of our EUR 40 million R&D expenditure for raw material research," says Kaisa Hietala, Executive Vice President of Neste Oil's Renewable Products business area.
Renewable diesel from more than ten different raw materials
Examples of Neste Oil's waste and residue-based raw materials include animal and fish fats, used cooking oil and various residues generated during vegetable oil refining, such as palm fatty acid distillate (PFAD) and technical corn oil. These raw materials accounted for 62% of Neste Oil's renewable inputs in 2014 (52% in 2013, 35% in 2012).
Additionally, Neste Oil manufactures renewable products from vegetable oils, mainly from crude palm oil. Its proportion of the total feedstock usage has decreased markedly over the past few years and currently stands at 38% (47% in 2013, 65% in 2012). In all, Neste Oil is already able to produce renewable diesel from more than ten different raw materials, and the total amount of renewal diesel produced by Neste Oil in 2014 would suffice to power 2.8 million passenger cars for one year.
All of the company's renewable raw materials are sustainably produced and comply with both the requirements set out by legislation and the company's own stringent sustainability criteria. With regard to crude palm oil, Neste Oil only uses certified feedstock.
Production volume increasing and new products introduced to the market
Neste Oil produces renewable products based on its proprietary NEXBTL technology in its refineries located in Finland, the Netherlands, and Singapore. With its annual capacity of 2 million tonnes, the company is the world's largest producer of renewable diesel. The goal is to increase annual capacity to 2.6 million tonnes without making any major additional investments. Additionally, the NEXBTL product range will expand to cover entirely new applications outside traffic fuels, such as the chemical industry.
Neste Oil Corporation
Director of Corporate Communications
Further information: Kaisa Hietala, Executive Vice President, Renewable Products, tel. +358 (0)10 458 4128
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company specializing in high-quality fuels for cleaner traffic. The company produces all of the most important oil products and is the world's leading supplier of diesels made from renewable raw materials. In 2014, the company's net sales stood at EUR 15 billion, and it employs some 5,000 people. Neste Oil's shares are traded on NASDAQ Helsinki Ltd.
Neste Oil has been accepted into the Dow Jones Sustainability World Index. The company has also been on the Global 100 list of sustainable companies for several years in succession. CDP Forest has selected Neste Oil as one of the best companies in taking care of their forest footprint in the oil and gas industry. www.nesteoil.fi