Page 29 - Peter Vanacker News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Renewable energy and the circular economy are driving growth for Neste Topics Photo courtesy of Neste Corporation Peter Vanacker is well-acquainted with disruption and conflict. As the president and CEO of Neste Corporation, he leads a company with a market capitalization of about US$40 billion that stands with a foot in two contrasting camps. Based in Espoo, Finland, Neste has a heritage in oil refining. But Neste’s future on the world stage is being shaped by strong growth in renewables and the company’s role in driving the circular economy. Vanacker, 55, holds Belgian and German citize...

 - May 11, 2021, 2:28 PM With a $230 million expansion set to begin at its Rotterdam refinery, and a similar project already underway at its Singapore location, Neste expects its annual output of sustainable alternative fuel to exponentially increase by 2023. (Photo: Neste) Major sustainable fuel producer Neste has finally greenlit a long-discussed expansion project at its Rotterdam refinery. Requiring an outlay of approximately $231 million, the expansion, which is expected to be completed by mid-2023, will add another 500,000 tons of sustainable aviation fuel (SAF) a year to the plant’s...

President and CEO Peter Vanacker said: “Neste’s 2021 started in the same way as the previous year ended: with a resilient Renewable Products business and challenging market in Oil Products. We posted a comparable operating profit of EUR 302 million in the first quarter, compared to EUR 408 million in the corresponding period last year. Renewable Products’ sales margin was healthy, sales volumes were high, and our production facilities reached a new quarterly production record. Oil Products continued to suffer from a weak refining market and oversupply caused by the COVID-19 pandemic. Ma...

There were 22 weekdays in April. There were 15 announcements about sustainable aviation fuel progress, advancements, implementations, and production in just those 21 days. What does that mean? Why is SAF suddenly taking off like never before, even as the aviation industry was turned upside down due to the COVID-19 pandemic? Why are companies pivoting from other fuels to focus on SAF? In today’s Digest, let’s kick the tires and light the fires as SAF is cleared for take-off. The latest SAF news and what it means. Neste’s News Let’s start with the most recent big news that Neste will co...

(Neste)   Neste, the world’s leading producer of renewable diesel and sustainable aviation fuel produced from waste and residue raw materials, will modify its existing renewables production capacity in Rotterdam, the Netherlands, to enable production of Sustainable Aviation Fuel (SAF). Currently the refinery produces mainly Neste MY Renewable Diesel™. The modifications to the refinery, an investment of approximately EUR 190 million, will enable Neste to optionally produce up to 500,000 tons of SAF per annum as part of the existing capacity. Neste expects the project to be completed in t...