Neste has agreed to acquire 100% of Agri Trading - one of the largest independent renewable waste and residue fat and oil traders in the US.
Neste refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock.
Agri Trading, based in Minnesota and established in 1977, has become an industry leader in trading animal fat waste, used cooking oil, technical corn oil, and other vegetable oils throughout the US, Canada, Mexico and Europe.
The company manages all aspects of transportation, logistics, transloading and export services.
The transaction supports Neste in its efforts to build a solid global waste and residue raw material platform that can keep pace with the customer’s growing demand for renewable products.
Together with previously announced acquisitions of IH Demeter, Bunge Loders Croklaan and Count Terminal in the Netherlands, and Mahoney Environmental in the US, Agri Trading will also enhance Neste’s competitiveness in the global waste and residue raw material market.
“This agreement supports our renewables growth strategy and further strengthens our global renewable raw material sourcing as well as our footprint in the US. Agri Trading complements our previous acquisition of Mahoney Environmental in the United States with its wide trading network of renewable raw materials compounded with efficient logistics. I am happy to welcome Agri Trading to be part of Neste’s journey in creating a healthier planet for our children,” said Neste’s president and CEO Peter Vanacker.
“Combating climate change is an urgent priority for the US, and renewable products are a much needed part of the solution because they enable climate action now,” added Jeremy Baines, president of Neste US.
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