Neste Corporation, Press Release, 8 November 2023 at 10 a.m. (EET)
Neste, a producer of renewable fuels from waste and residues, has acquired 29% of the shares of Neste Demeter B.V., increasing Neste’s ownership to 80% of the company. Neste has also agreed to acquire the remaining shares of Neste Demeter B.V. over the next few years as agreed with the minority shareholders. Neste announced 3 September 2018 the acquisition of 51% of the shares of IH Demeter B.V., making Neste the controlling shareholder.
“The partnership between the minority owners of the company and Neste has been successful. I am pleased that we have now agreed to take full ownership of Neste Demeter while continuing the cooperation with the minority owners. Neste Demeter is an important part of our raw material supply and this is a step forward in our strategy of building a global waste and residue raw material platform to secure raw material availability and competitiveness,” says Carl Nyberg, Neste’s Executive Vice President of Renewables Supply Chain and Sustainability.
Neste’s current capacity for renewable products in Rotterdam is the largest in Europe. Neste made the final investment decision to invest into new renewable products production capacity in Rotterdam in June 2022, with targeted start up during the first half of 2026. The Rotterdam refinery expansion investment of approximately EUR 1.9 billion will expand Neste’s overall renewable product capacity to a targeted 6.8 million tons globally by the end 2026.
Vice President, Communications
Further information: Please contact Neste's media service, tel. +358 800 94025 / firstname.lastname@example.org (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste’s releases at https://www.neste.com/for-media/releases-and-news/subscribe.
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials.
As the world’s leading producer of sustainable aviation fuel and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, Neste helps its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.
The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2022, Neste's revenue stood at EUR 25.7 billion. Read more: neste.com