Neste investing €1.4B to boost capacity for renewable drop-in fuels and products production in Singapore
Neste Corporation will invest approximately €1.4 billion to add additional renewable products production capacity in Singapore. The decision is based on a growing global market demand for low-carbon solutions in transport and cities, aviation, polymers and chemicals.
The investment will extend Neste’s renewable product overall capacity in Singapore by up to 1.3 million tons per year, bringing the total renewable product capacity close to 4.5 million tons annually in 2022. The company’s target is to start up the new production line during the first half of 2022.
As a result of the investment, Neste will have more options to choose between different product solutions in the whole production system. In addition to producing renewable diesel, all Neste’s renewable product refineries are able to produce renewable aviation fuel and raw materials for various polymers and chemicals materials.
The investment in Singapore will include additional logistics capabilities and enhanced raw material pretreatment for the use of increasingly low-quality waste and residue raw materials also for the existing refinery.
The investment will strengthen our competitive advantages which are based on the global optimization of our production and waste and residue raw material usage. With our proprietary NEXBTL technology, renewable products can be refined flexibly from a wide variety of lower quality waste and residues while the end-products retain their high quality. We will leverage the experience gained at our existing sites in Singapore, Rotterdam, the Netherlands and Porvoo, Finland, and thanks to our continuous process and technology development, the new production line will be the best in class worldwide.—Peter Vanacker, President and CEO of Neste
Neste currently has a renewable products production capacity of 2.7 million tons annually. Of this total, more than one million is produced in Singapore, the same amount in Rotterdam in the Netherlands and the rest in Porvoo, Finland.
Before the new production line in Singapore comes onstream, Neste will continue eliminating bottlenecks in existing production, bringing the existing capacity to 3 million tons by 2020.
Neste’s renewable products—Neste MY Renewable Diesel, Neste MY Renewable Jet Fuel—are part of the solution for reducing emissions in transport and aviation. Neste renewable solutions can also replace fossil raw materials in various chemical industry applications, such as in the production of renewable solvents and bio-based plastics.
NEXBTL technology can make top-quality renewable products out of nearly any waste and residue fats and vegetable oils. Neste’s renewable products are fully compatible with existing production, logistics infrastructure and engine technology and a “drop-in” alternative to conventional fossil fuels and raw materials.