Neste invests in AFS fuel storage company to enable supply of Sustainable Aviation Fuel at Amsterdam Airport Schiphol
Neste Corporation, Press Release, 1 December 2020 at 9 a.m. (EET)
Neste, the world’s leading provider of renewable diesel and sustainable aviation fuel, has acquired a minority stake in Aircraft Fuel Supply B.V. (AFS). AFS is the owner and operator of the Amsterdam Airport Schiphol fuel storage company.
“Our ambition is to become a global leader in renewable and circular solutions. We are committed to supporting our customers to meet their ambitious climate and carbon neutrality targets and reduce greenhouse gas emissions with our sustainable aviation fuel (SAF). Acquiring a share in Aircraft Fuel Supply B.V. is an important milestone in expanding the supply of SAF at a major global airport,” says Neste’s President and CEO Peter Vanacker.
"AFS is very pleased with this new shareholder and to contribute to a sustainable aviation industry", says Inge Stegmann, CEO of Aircraft Fuel Supply B.V.
Airlines can start refueling with Neste MY Sustainable Aviation Fuel at Schiphol Airport
Through its share in AFS, Neste is able to offer to airlines operating at Amsterdam Airport Schiphol in the Netherlands ongoing supply of Neste MY Sustainable Aviation Fuel™ with immediate effect. Neste’s SAF is made from sustainably sourced, renewable waste and residue raw materials. Typically, in its neat form and over the life cycle, its use can reduce up to 80%* of greenhouse gas emissions compared to fossil jet fuel use.
“We are extremely proud to be growing and securing the availability of SAF at Amsterdam Airport Schiphol. In doing so, we will support airlines in reaching their emission reduction targets. Front-runner airlines operating at Amsterdam Airport Schiphol can really make a contribution to a more sustainable future for the aviation industry,” says Thorsten Lange, Executive Vice President for Renewable Aviation at Neste. “The Netherlands is a country which has taken steps forward to provide regulatory support to help encourage the supply and use of SAF."
Neste MY Sustainable Aviation Fuel gives an immediate solution for reducing the direct greenhouse gas emissions of flying. It can be used as a drop-in fuel with existing aircraft engines and airport infrastructure, requiring no extra investment. Prior to use, Neste MY Sustainable Aviation Fuel is blended with fossil jet fuel and is then certified to meet ASTM jet fuel specifications.
CEO Dick Benschop of Amsterdam Airport Schiphol says: “Looking at the future, quality is key for us. The quality of Schiphol’s network must go hand in hand with major steps towards sustainable aviation. Sustainable aviation fuel is a proven technology which needs to be scaled up. Therefore we warmly welcome Neste to our airport. They are a front-runner and together with them, our airlines, our other aviation partners and our government we want to lead by example.”
Neste and Amsterdam Airport Schiphol are both contributors to the Clean Skies for Tomorrow Initiative: A joint policy proposal to accelerate the deployment of sustainable aviation fuels in Europe, in collaboration with the Energy Transitions Commission and World Economic Forum.
Neste MY Sustainable Aviation Fuel used by a number of airlines
Neste’s sustainable aviation fuel annual capacity is currently 100,000 tons. With Neste's Singapore refinery expansion on the way, and with possible additional investment into the Rotterdam refinery, Neste will have the capacity to produce some 1.5 million tons of sustainable aviation fuel annually by 2023. The fuel is already available, used in the market and supplied to various commercial airlines, business aviation customers and at various airports in Europe and North America.
*) The method used to calculate life cycle emissions and emission reduction complies with the EU Renewable Energy Directive (2009/28/EC).
Vice President, Communications
More information: Thorsten Lange, Executive Vice President, Renewable Aviation, Neste. Please contact Neste’s media service, tel. +358 50 458 5076 / email@example.com (weekdays from 8:30 a.m. to 4:00 p.m. (EET)).
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2019, Neste's revenue stood at EUR 15.8 billion, with 82% of the company’s comparable operating profit coming from renewable products. Read more: neste.com