Neste has agreed to acquire Bunge Loders Croklaan's refinery located in Rotterdam for €258 million.
The Netherlands refinery is located next to Neste’s existing biorefinery and it consists of a pretreatment facility, tank farm, jetties and has a pipeline connection to the producer of renewable diesel and sustainable aviation fuel’s site.
The transition will be implemented in phases with the refinery plant’s full pretreatment capacity available for processing Neste’s feedstock by the end of 2024.
Neste’s president and CEO Peter Vanacker said: “The acquisition of the refinery plant supports our global growth strategy in renewables.
“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 tonnes of greenhouse gas reductions for our customers by 2030.”
To meet the growing demand of renewable diesel, sustainable aviation fuel and feedstock for chemicals, Neste has focused on building a global feedstock and production platform for renewables.
Neste will expand its renewables annual production capacity from 3.2 to 4.5 million tonnes by the first quarter of 2023, of which the Singapore facility expansion will provide 1.3 million tonnes.
Neste has been active in the Netherlands since 2011 when the Rotterdam facility for renewable products started its operations.
The Rotterdam facility, together with the company’s Singapore refinery, are the world’s biggest and most advanced renewable fuels refineries.
Neste’s Sluiskil plant is responsible for the storage and pretreatment of renewable raw materials and Neste Demeter BV delivers raw materials to the company's renewable products facility.
Earlier this year, Neste also acquired a terminal in Rotterdam for storing, refining and blending renewable waste and residue-based raw materials.
Popular News Stories
LATEST VIDEOHow sustainable aviation fuel (SAF) is making its way in the aviation sector