Neste Oil today laid the foundation stone for its renewable diesel plant in the Port of Rotterdam. Upon completion, the plant will be the largest renewable diesel plant in Europe with an annual production capacity of 800,000 metric tonnes. The investment cost of the plant is estimated to be 670 million, and it will create over 100 jobs.
"With this plant in the Netherlands, Neste Oil will become the leading renewable diesel producer supplying Europe from the Netherlands. Our investment also signals Neste Oil's commitment to driving forward latest innovation with our NExBTL technology in Europe", said Matti Lievonen, President and CEO of Neste Oil.
The building of Europe's largest renewable diesel plant in Rotterdam port further strengthens the harbour's position as the leading biofuels hub in Europe.
"We are very pleased to have attracted this investment from Neste Oil, which is testament to Rotterdam's strength as a location attracting innovation and investment. With Neste Oil's investment, we are truly in the forefront of supplying Europe with the most advanced technology in renewable diesel", said Ahmed Aboutaleb, Mayor of Rotterdam.
"Through Neste Oil's advanced NExBTL technology, the Rotterdam plant will be best placed to make a significant contribution to Europe's fight against climate change", said Frans Timmermans, Minister of European Affairs of the Kingdom of the Netherlands.
The plant's 800,000 metric tonnes production capacity will be a major step forward to reaching the EU's 10% renewable fuels target in transport. NExBTL, Neste Oil's proprietary technology, is the innovation behind the world's cleanest and most advanced renewable diesel. It contributes to 40-80 % reduction in CO2 emissions and independent research has proven that it significantly reduces tail pipe emissions.
Jarmo Honkamaa, Deputy CEO of Neste Oil and Executive Vice President in its Renewable Fuels Business Area, said: "Our NExBTL renewable fuel is the most advanced diesel fuel that brings a cost efficient solution to reducing CO2 and local emissions. I am very happy to have this major investment in Rotterdam in the Netherlands, which is known as one of the leading EU member states in environmental questions."
In its current NExBTL production in Finland, Neste Oil uses palm oil, rapeseed oil and waste animal fat sourced from the food industry as feedstock. Neste Oil is dedicated to sustainability in its feedstock sourcing, reflected e.g. in Neste Oil's commitment to solely using certified palm oil by the end of 2015 or even before that if sufficient volumes become available. Most of Neste Oil's research spending is used in developing new renewable raw materials.
NESTE OIL CORPORATION
Director, Corporate Communications
Director, Corporate Communications
Further information: Mr Jarmo Honkamaa, Deputy CEO and Executive Vice President, Renewable Fuels Business Area, tel +358 10 458 4426
About Neste Oil
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company's target is to be the world's leading supplier of renewable diesel. Neste Oil's refineries are located in Porvoo and Naantali and have a combined crude oil refining capacity of approx. 260,000 barrels a day. The company had net sales of EUR 15 billion in 2008 and employs around 5,200 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki. For further information, see www.nesteoil.com
NExBTL, produced by Neste Oil with its proprietary technology, is the cleanest renewable diesel fuel available today. It offers significant reductions in both greenhouse gas emissions and pollution compared to fossil diesel fuel. The precise reductions in greenhouse gases depend on the raw materials used in production. Tests have shown that NExBTL produces 40-80% less greenhouse gases throughout the whole product lifecycle.
NExBTL renewable diesel is a solution for reducing air pollution in high density traffic areas. It can be used without capital investments in current distribution systems and vehicle engines.
The current city bus demonstration project in Finland with 300 normal city buses proves that NExBTL renewable diesel has a significant impact on the local air quality. The project also shows that it can be used in high blends (>30%) in conventional diesel engines. Technically, NExBTL can also be used 100% without blending. The fuel brings the emissions of old vehicles to the level of modern diesel engines.