[ad_1]
Neste Corporation has made the final investment decision to invest into new renewable products production capacity in Rotterdam. The decision is based on demand for renewable products growing substantially with customers’ higher climate ambitions.
Rotterdam NExBTL plant
Neste’s current 1.4 million ton capacity for renewable products in Rotterdam is the largest in Europe. The Rotterdam refinery expansion investment of approximately €1.9 billion will expand Neste’s overall renewable product capacity by 1.3 million tons per annum, bringing the total renewable product capacity in Rotterdam to 2.7 million tons annually, of which sustainable aviation fuel (SAF) production capability will be 1.2 million tons.
The company’s target is to start up the new production unit during the first half of 2026.
The investment in the expansion of our Rotterdam refinery strengthens our global leading position in renewable products. It also marks an important step in ensuring our future competitiveness and our renewables’ growth strategy execution as it will bring a substantial amount of renewable diesel, SAF and renewable feedstock for polymers and chemicals to our sustainability-focused customers.
—Matti Lehmus, President and CEO of Neste
Neste currently has a renewable products global production capacity of 3.3 million tons annually. Neste’s ongoing Singapore expansion project and the joint venture with Marathon in Martinez, CA, that is still pending for closing, will increase the total production capacity of renewable products to 5.5 million tons by the end of 2023, and make Neste the only global provider of renewable fuels and renewable feedstock for polymers and chemicals with a production footprint on three continents.
When completed, the Rotterdam expansion project will further increase the company’s total production capacity of renewable products to 6.8 million tons by the end of 2026.
Alterra. Separately, Neste announced it has acquired the European rights to Alterra Energy’s thermochemical liquefaction technology. Alterra Energy is a US-based company that has developed a proprietary thermochemical solution for liquefaction of hard-to-recycle plastic.
In Akron, Ohio, the company is already running an industrial-scale facility that transforms end-of-life plastics into an intermediate product, which can be further refined into raw material for new plastics and other petrochemical products.
In 2020, Neste acquired a minority stake in Alterra Energy. Neste has further processed liquefied waste plastic sourced from, among others, Alterra Energy in a series of trial runs at its refinery in Finland. Together with Ravago, Neste also plans to set up a joint venture to deploy the Alterra Energy technology in Vlissingen, the Netherlands.
Furthermore, to scale up processing capacities for liquefied waste plastic at its Porvoo refinery in Finland, Neste is currently conducting a feasibility study to examine investing in proprietary pretreatment and upgrading capabilities. Through chemical recycling, the company aims to reduce dependence on virgin fossil resources and accelerate circularity in the production of polymers and chemicals.
[ad_2]
Source link