Neste to start production at Singapore renewables fuels expansion in 'weeks'
(Reuters) - Finnish biofuel producer Neste (NESTE.HE) plans to start commercial production at its renewable fuels expansion project in Singapore in the coming weeks after trial runs, a senior company executive said on Wednesday.
Neste plans to inaugurate the 1.3 million ton-per-year (tpy) plant next month, executive vice president Carl Nyberg told Reuters
The plant will boost Neste's sustainable aviation fuel capacity by up to 1 million tpy, in addition to a 500,000 tpy project at their Rotterdam plant, he added.
The Singapore expansion and production from a new joint venture plant in California with Marathon Oil Corp (MRO.N) will increase Neste's biofuels capacity to reach 5.5 million tpy by end of 2023, up from 3.3 million tpy, Nyberg said.
Neste produces renewable fuels, mainly from waste and residues such as used cooking oil and animal fat from food industry waste.
Nyberg expects these to continue forming a big part of the company's feedstock pool while it develops new solutions such algae from a pilot project in Spain.
Comments