Neste Oil produced enough renewable fuel from waste and residues last year to power over 1 million cars
Neste Oil Corporation
4 February 2014Â 10 a.m. (EET)
Neste Oil produced enough renewable fuel from waste and residues last year to
power over 1 million cars
Neste Oil used more waste and residues than vegetable oil to produce renewable
fuel for the first time in 2013. Waste and residues accounted for 53% of the
2.3 million tons of renewable feedstocks used last year, while vegetable oil,
mainly crude palm oil, accounted for the remaining 47%. Neste Oil increased its
use of waste animal fat and palm fatty acid distillate (PFAD), a residue
generated during palm oil production, in particular, and also began using three
new waste- and residue-based inputs: tall oil pitch, technical corn oil, and
spent bleaching oil.
Neste Oil's usage of waste and residues in renewable fuel production increased
by 64%, to more than 1.2 million tonnes last year. This compares to 740,000
tonnes in 2012 and 330,000 tonnes in 2011. Thanks to this major increase, Neste
Oil now produces enough renewable diesel from waste and residues to power more
than 1 million cars annually.
"We have quadrupled our use of waste and residues in just two years and
developed a broad and flexible renewable feedstock base, in line with our
strategy," says Matti Lehmus, Neste Oil's Executive Vice President, Oil Products
and Renewables. "We now have 12 different renewable inputs in our feedstock
base. Going forward, we will continue to focus on extending the range of non-
food materials we use and continue verifying the sustainability of all our
Neste Oil uses around 70% of its annual R&D budget of approx. EUR 40 million on
research into renewable feedstocks, with a particular focus on completely new
types of inputs, such as microbial oil and algae oil.
Neste Oil Corporation
Director, Corporate Communications
Matti Lehmus, Executive Vice President, Oil Products and Renewables, tel. +358
(0)10 458 4072
Neste Oil's Annual Report for 2013, containing more details on the company's
feedstock use, will be published in Week 10.
Photo for media use attached.
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-
emission, high-quality traffic fuels. The company produces a comprehensive range
of major petroleum products and is the world's leading supplier of renewable
diesel. Neste Oil had net sales of EUR 17.5 billion in 2013 and employs around
5,000 people, and is listed on NASDAQ OMX Helsinki.
Neste Oil is included in the Dow Jones Sustainability World Index and the
Ethibel Pioneer Investment Register, and has featured in The Global 100 list of
the world's most sustainable corporations for many years. Forest Footprint
Disclosure (FFD) has ranked Neste Oil as one of the best performers in the oil &
gas sector. Further information: www.nesteoil.com
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Source: Neste Oil Oyj via GlobeNewswire