EMEA News
Neste Boosts Biofuel Production Capacity in Northwest Europe
Finnish refiner Neste is set to increase its biofuel production capacity in Northwest Europe with the purchase of a plant in the Netherlands, the company said Tuesday.
Neste has agreed to buy Bunge Loders Croklaan's biorefinery in Rotterdam for 258 million euros ($302 million), the firm said in a statement on its website. The facility is next to Neste's own biorefinery at the Dutch port.
"The acquisition of the refinery plant supports our global growth strategy in renewables," Peter Vanacker, CEO of Neste, said in the statement.
"It allows us to accelerate the scaling up of our renewable raw material pretreatment capacity, which is an important driver for expanding the use of waste and residue feedstocks and increasing our feedstock flexibility.
"We are committed to increasing the share of waste and residues in our renewables feedstock mix to 100% by 2025 and to grow our production platform to enable over 20 million tons of greenhouse gas reductions for our customers by 2030."
