Neste to develop Europe’s most sustainable refinery by 2030

The Porvoo refinery in Finland is on track to be the most sustainable refinery in Europe by 2030. Credit | Neste
The Porvoo refinery in Finland is on track to be the most sustainable refinery in Europe by 2030. Credit | Neste
Neste is working to reach carbon neutral production by 2035 while reduce emissions by 20 million tons of CO2e annually by 2030, says CEO Matti Lehmus

Neste is the world’s leading producer of sustainable aviation fuel, renewable diesel and renewable feedstock solutions for various polymers and chemicals industry uses.
The Finnish company — founded in 1948 — is developing chemical recycling technologies and capacity to combat plastic waste, and  introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. These elements are part of the wider sustainability strategy that aims to make the Porvoo refinery in Finland the most sustainable refinery in Europe by 2030 and to reach carbon neutral production by 2035.

Youtube Placeholder

Neste is also committed to supporting its customers to reduce their greenhouse gas (GHG) emissions by at least 20 million tons of CO2e annually by 2030.

Renewable products promoting sustainable business growth

Neste produces renewable products at its refineries in Finland, the Netherlands and Singapore entirely from renewable raw materials with a current annual nameplate capacity of approximately 3.3 million tons. Neste’s Singapore refinery expansion and our joint operation, Martinez Renewables, with Marathon Petroleum in Martinez, California, will increase Neste’s total production capacity of renewable products to 5.5 million tons by the beginning of 2024. 

Strong leadership producing impressive results

“Neste posted strong results in the third quarter of 2023 and our comparable EBITDA reached €1,047m. Going forward, we continue rolling out our global growth strategy, while in parallel focusing on efficiency improvements,” shares President and CEO Matti Lehmus

“Our near-term focus will be on the successful ramp-up of our new production facilities, the global optimisation of our term sales for 2024 and in continuing our efficiency and productivity improvements.”

Matti Lehmus: Over two decades of energy leadership at Neste 

Lehmus joined the company in 1998, and has held the post of CEO since 2022. Previously, he has been responsible for Neste’s Renewables Platform (2019–2022) and for the Oil Products business area (2014–2019).

He has also been a member of the National Emergency Supply Council since 2018, and gained his eMBA from Helsinki School of Economics in 2003.


*********************************************


For more energy insights check out the latest edition of Energy Digital Magazine and be sure to follow us on LinkedIn & Twitter.

You may also be interested in Sustainability Magazine and EV Magazine

*********************************************

Net Zero LIVE will be hosted live from the QEII Centre, London on the 6th and 7th of March, and streamed globally via our virtual event platform Brella. Net Zero LIVE London will feature four LIVE themes, incorporating Sustainability LIVE, EV LIVE, Scope 3 LIVE, and Energy LIVE to deliver a holistic conference and exhibition experience with opportunities to connect with like-minded peers and actively contribute to crafting a sustainable future. Following Net Zero LIVE, viewers can also sign up for Sustainability LIVE Dubai and Singapore. 

Sign up to the The Global Sustainability & ESG Awards 2024, coming to London on the 11th September 2024. 

*********************************************

BizClik is a global provider of B2B digital media platforms that cover Executive Communities for CEOs, CFOs, CMOs, Sustainability Leaders, Procurement & Supply Chain Leaders, Technology & AI Leaders, Cyber Leaders, FinTech & InsurTech Leaders as well as covering industries such as Manufacturing, Mining, Energy, EV, Construction, Healthcare + Food & Drink.

BizClik – based in London, Dubai, and New York – offers services such as Content Creation, Advertising & Sponsorship Solutions, Webinars & Events.

Share

Featured Articles

CGG, now Viridien, Providing Data-Driven Earth Science

Longstanding French geoscience and technology company CGG has rebranded as Viridien, pivoting to high-growth areas like HPC and AI solutions

Equinix Data Centre Heat Warms Buildings and Swimming Pools

The Equinix Heat Export programme unlocks the value of residual heat generated in its International Business Exchange (IBX) data centres

GE Vernova’s CEO of Offshore Wind Jan Kjærsgård Steps Down

Following three years in the position of Offshore Wind CEO at GE Vernova, Jan Kjærsgård announced he stepped down as of 7 June

Celebrating World Environment Day: ‘Our Land, Our Future’

Sustainability

Scientist Claudia Sheinbaum: Mexico’s First Female President

Renewable Energy

Waste Heat From Google Data Centre Warming up Finnish Homes

Technology & AI