Neste Corporation, News, 24 May 2023
Photo: courtesy of World Fuel Services
Neste and World Fuel Services (World Fuel) are significantly expanding the availability of Neste MY Sustainable Aviation Fuel™ in Europe, building on World Fuel's extensive network and customer base and Neste's well-established production and supply chain capabilities. The expansion provides World Fuel with greater access to sustainable aviation fuel (SAF) for European commercial, business and general aviation customers and contributes to further reducing carbon emissions in the aviation industry and responding to increasing demand for SAF.
With greater volumes of SAF from Neste, World Fuel is increasing the number of European airports they can supply with SAF from 13 to over 40. This collaboration between the two global leaders in the aviation industry also paves the way for expanding the accessibility of SAF to more than 100 airport locations presently in World Fuel’s European network.
“We are excited to have created a framework that enables us to more reliably provide our customers across Europe with SAF in a timely and expedient manner,” says Duncan Storey, Vice President, Supply Aviation Europe, World Fuel Services. “We are confident this agreement and deeper collaboration with Neste will serve to accelerate our ability to support customers in their decarbonization ambitions across the globe. This initiative is another example of the many actions we have taken to bring renewable fuels and sustainable practices to a wider audience.”
“Neste is fully committed to supporting the aviation industry to achieve its net-zero carbon emissions goal. Working closely together with partners like World Fuel Services is crucial in this as it will help us to accelerate the supply and usage of sustainable aviation fuel across World Fuel’s extensive network of airports. We are excited to expand our collaboration with World Fuel as we increase our annual SAF production capability to 1.5 million tons per annum by the beginning of 2024,” said Alexander Kueper, Vice President EMEA from the Renewable Aviation business unit at Neste.
Sustainable Aviation Fuel
SAF is a renewable aviation fuel providing a more sustainable alternative to conventional, fossil based jet fuel. It is widely recognized as a key lever to achieve aviation’s emission reduction goals. Using Neste MY Sustainable Aviation Fuel™ reduces greenhouse gas emissions by up to 80%* over the fuel’s life cycle, compared to using conventional jet fuel. Neste’s SAF is made from sustainably sourced, 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste.
*) When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology
Neste: Please contact Neste’s media service, tel. +358 800 94025 / email@example.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste’s releases at https://www.neste.com/for-media/releases-and-news/subscribe.
World Fuel Services: Pete Stevens, tel. +1 281-280-2114 / firstname.lastname@example.org
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 sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2022, Neste's revenue stood at EUR 25.7 billion. Read more: neste.com
About World Fuel Services
Headquartered in Miami, Florida, World Fuel Services is a global energy management company involved in providing supply fulfillment, energy procurement advisory services, and transaction and payment management solutions to commercial and industrial customers worldwide. World Fuel Services sells and delivers liquid fuels, natural gas, electricity, renewable energy, and other sustainability solutions to its clients at more than 8,000 locations in more than 200 countries and territories through its Marine, Aviation, and World Kinect Energy Services divisions. For more information, visit www.wfscorp.com or www.world-kinect.com.