Diesel from waste and residues
Fossil fuels for transport generate vast amounts of CO2 emissions. The earth’s resources are limited and competition for raw materials is increasing. Many waste and residue streams are currently underused.
Solution: Neste MY Renewable Diesel made from renewable raw materials
The majority of the raw materials used in the product are waste and residue fat and vegetable oils from the food manufacturing industry. In 2016, nearly 80% of the raw materials were waste and residues. The products offer 40 to 90% lower carbon dioxide emissions over a life cycle compared with fossil diesel. The product has been enabled by Neste’s investments in research and development in areas such as renewable raw materials and products and the NEXBTL technology. The company has more than trebled its investment commitment in this area in the last 10 years.
Revenue logic and benefits to Neste
Currently as much as 21% of net sales and 48% of operating profit (€469 million) come from renewable products. Ten years ago, the figures were close to zero. Neste is the world’s largest manufacturer of renewable products made with waste and residue.
Benefits to customers
For consumers, transport businesses, city authorities and distributors, Neste MY is a cost-effective alternative to the increased use of renewable energy and the reduction of CO2 emissions without investing in new vehicles. It also releases fewer impurities into the atmosphere (particulates: NOx, HC and CO emissions). The fuel is of high quality and odourless, it burns efficiently, is suitable for sub-zero conditions and doesn’t require any additional vehicle maintenance. It can be used, distributed and stored in the same way as regular diesel.
Neste in brief
Main business: oil refinery and renewable products
Net sales: over €50 million
Launch of circular economy solution: Neste’s first renewable diesel plant was opened in 2007 in Porvoo. The company has been using waste and residue since the beginning. In 10 years, their use of the raw materials has grown to almost 80%.
Share of the circular economy solution of the total business: in 2016, Neste’s renewable products contributed 21% of the company’s net sales and nearly 48% of its operating profit (€469 million)
Employees: more than 250