“The completion of this acquisition is an important step forward in delivering on Neste’s global growth strategy in renewables. It allows us to accelerate the scaling up of our renewable raw material pretreatment capacity, which is an important driver for expanding the use of waste and residue feedstocks and increasing our feedstock flexibility. We are committed to increasing the share of waste and residues to 100% of Neste’s total renewable raw material inputs at the latest by 2025, and growing our production platform to help customers reduce greenhouse gas emissions by 20 million t annually by 2030,” said Neste’s President and CEO Peter Vanacker.
To meet the growing demand of renewable diesel, sustainable aviation fuel and feedstock for polymers and chemicals, Neste focuses on building a global feedstock and production platform for renewables. The company will expand its renewables annual nameplate production capacity from the current 3.2 to 4.5 million t in 1Q23, of which the Singapore facility expansion will provide 1.3 million t. The now acquired refinery offers further pretreatment capacity and terminal infrastructure to handle the increasingly complex waste and residue feedstocks, and supports further growth in production capacity beyond 2023.
Neste has been active in the Netherlands since 2011 when the Rotterdam facility for renewable products started its operations. Neste’s Sluiskil plant is responsible for the storage and pretreatment of renewable raw materials, and Neste Demeter B.V. delivers raw materials to the company's renewable products facility. In 2020, Neste also acquired a terminal in Rotterdam for storing, pretreating and blending renewable waste and residue-based raw materials. In 2019, Neste opened a new office in Hoofddorp, in greater Amsterdam, which serves as the global hub for the growing Renewable Aviation business. Neste MY Renewable Diesel™, produced from renewable raw materials is currently available at more than 100 sales points throughout the country.
