Neste Oil Corporation
4 February 2014 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 renewable inputs."
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