In a €258 million deal, Neste is acquiring Bunge Loders Croklaan’s facility to boost its raw material pre-treatment capacity for the production of renewable products.
The Bunge plant is located next to Neste’s existing biorefinery and comprises a pre-treatment facility, tank farm and jetties. It also has a pipeline connection to Neste’s site.
After completion of the purchases, the transition process will be implemented in phases and the refinery’s full pre-treatment capacity is expected to be ready for processing Neste’s feedstock by the end of 2014.
‘The acquisition of the refinery plant supports our global growth strategy in renewables. It allows us to accelerate the scaling up of our renewable raw material pretreatment capacity, which is an important driver for expanding the use of waste and residue feedstocks and increasing our feedstock flexibility,’ commented Neste’s President and CEO Peter Vanacker.
‘We are committed to increasing the share of waste and residues in our renewables feedstock mix to 100% by 2025 and to grow our production platform to enable over 20 million tons of greenhouse gas reductions for our customers by 2030.’
To meet the growing demand for renewable diesel, sustainable aviation fuel and feedstock for chemicals, Neste is focusing on building a global feedstock and production platform for renewables.
The company is looking to expand its renewables annual production capacity from 3.2 to 4.5 million tons by the first quarter of 2023.
In May this year, Neste purchased Dutch Count Companies BV’s Count Terminal Rotterdam BV and its supporting entities, part of the First Dutch Group of Peter Goedvolk. This terminal Count Terminal stores, refines and blends renewable waste and residue-based raw materials (Category 3 animal fats and used cooking oils) in the Rotterdam harbour area to be used for oleochemical products and transportation fuels.