Neste is the world’s leading producer of sustainable aviation fuel, renewable diesel and renewable feedstock solutions for various uses in the chemical and polymer industries.
In general, it is an oil refining and trading company located in Espoo, Finland.
It produces, refines and markets petroleum products, provides engineering services and licenses production technologies.
The company is also developing chemical recycling to combat the challenge of plastic waste.
Neste manufactures renewable products at its refineries in Finland, the Netherlands and Singapore from renewable feedstocks with a current annual nameplate capacity of approximately 3.3 million tonnes.
In early 2023, its annual production capacity will increase to nearly 4.5 million tonnes of renewables as the expansion of its Singapore refinery comes online.
This helps the company meet the world’s growing demand for low-emission products.
As it is also a technologically advanced refiner of high-quality petroleum products with a commitment to achieve carbon-neutral production by 2035, Neste is introducing renewable and recycled raw materials, such as liquefied plastic waste, at its oil refinery in Porvoo, Finland.
At the Porvoo refinery, its goal is to increase the proportion of renewable and recycled feedstock to more than 10% by 2030 to replace the use of fossil crude oil-based feedstock.
Its network of almost 1,000 stations covers four countries in the Baltic Sea region: Finland, Estonia, Latvia and Lithuania.
The company invests heavily in the research, testing and deployment of new raw materials and technologies.
Neste Engineering Solutions provides high-quality engineering and technology services for the group and its external clients.
In 2021, Neste acquired Agri Trading, one of the largest independent traders of fats and oils from renewable residues and waste in the United States.
The completion of this transaction is an important step forward in fulfilling Neste’s growth strategy in renewable energy and in strengthening its global platform for renewable raw materials.
Prior to the acquisition, Neste carried out due diligence to ensure Agri Trading’s sustainability performance.