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(Repeats story to add byline, no change to text)By Essi LehtoHELSINKI, June 3 (Reuters) - Exxon Mobil's newly elected board member Kaisa Hietala says her work at Finnish refiner and biofuel producer Neste makes her more than just a champion of biofuels, she also has experience transforming a business.Tiny hedge fund Engine No. 1 led a shareholder revolt last week to unseat
The Finnish company is investing about $230 million (NZ$320 million) to equip its Rotterdam renewables refinery to make more sustainable jet fuel. Combined with an expansion at its Singapore facility, Neste will be able to make 1.5 million tonnes of SAF a year by the end of 2023, up from just 100,000 tonnes now. That compares with 300 million tonnes of fossil fuels used in aviation each year pre-pandemic. Roni Rekomaa/Bloomberg Peter Vanacker, chief executive officer of Neste, at the company's headquarters in Espoo, Finland. Neste has been manufacturing biodiesel for more than a decade at i...
MONEYWEB app instead? As the sustainability of flying comes into focus. By Kati Pohjanpalo, Bloomberg 22 May 2021 00:46 Image: Paul Hanna/Bloomberg The worldâs biggest maker of renewable diesel says itâs creating a new market for low-carbon jet fuel as passengers slowly return to the skies. Neste Oyj is betting that sustainable aviation fuel, SAF, will appeal to businesses eager to cut carbon emissions. The company also expects the fuelâs higher price wonât be an obstacle, as post-pandemic air travel resumes with a more climate-conscious mindset. INSIDERGOLD Subs...
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The world’s biggest maker of renewable diesel says it’s creating a new market for low-carbon jet fuel as passengers slowly return to the skies.