Neste Oyj Stock Price, News & Analysis

On June 28, 2022, Neste announced the appointment of Chris Cooper as President of Neste US, effective July 1, 2022. He will drive regional business strategies aimed at achieving strategic growth targets while serving as Neste's primary representative in the US. Currently, Cooper holds the position of Vice President Americas for Neste Renewable Aviation. Neste's President and CEO, Matti Lehmus, expressed confidence in Cooper's leadership to enhance the company's position in the US, focusing on renewables and sustainable solutions for transportation.

World Fuel Services has become an authorized branded distributor of Neste MY Sustainable Aviation Fuel™ (SAF), with the first supply at Paris-Le Bourget Airport. This initiative strengthens their supply presence in Europe, including the UK, Germany, and France, aligning with their commitment to sustainability in aviation. The partnership aims to reduce GHG emissions by up to 80% compared to fossil fuels, supporting a broader adoption of cleaner fuels in the industry. Since 2015, World Fuel has supplied over 27 million gallons of SAF globally.

United has signed a groundbreaking purchase agreement with Neste for over 52.5 million gallons of sustainable aviation fuel (SAF) to support flights from Amsterdam's Schiphol Airport. This marks the largest SAF deal made by Neste with a passenger airline, emphasizing United's commitment to sustainability. The agreement allows for 2.5 million gallons in the first year, 20 million gallons in the second year, and 30 million gallons in the third, aiming to reduce carbon emissions by up to 80%. United continues to lead in SAF investments globally, working towards a 100% green goal by 2050.

Coldplay has partnered with Neste to achieve a 50% reduction in CO2 emissions for their Music Of The Spheres World Tour compared to previous tours. Neste will supply sustainable aviation fuel (SAF) and renewable diesel to minimize emissions from air travel and transportation. Coldplay aims for eco-friendly touring, utilizing Neste MY Sustainable Aviation Fuel™, reducing flight emissions by up to 80%. The collaboration is expected to significantly lower the tour's carbon footprint across North America and Europe, reflecting a commitment to sustainability in the music industry.

Neste Corporation has announced a joint venture with Marathon Petroleum to produce renewable diesel at Marathon's refinery in Martinez, California. The venture represents an investment of approximately EUR 0.9 billion (USD 1.0 billion) and aims to enhance Neste's renewable product capacity by over 1 million tons annually. Production is expected to start in late 2022, reaching full capacity of 2.1 million tons by the end of 2023. This partnership aligns with Neste's commitment to sustainability and carbon emissions reduction, targeting a reduction of 20 million tons of CO2 annually by 2030.

Kinder Morgan has partnered with Neste to establish a major domestic raw material storage and logistics hub in the U.S., enhancing the production of renewable diesel and sustainable aviation fuel. The project, located in Harvey, Louisiana, will modify existing infrastructure to support the storage of a range of renewable materials, including used cooking oil. Operations are expected to begin in Q1 2023. The collaboration aims to leverage America's energy infrastructure to promote sustainable fuel solutions, significantly reducing greenhouse gas emissions and supporting Neste's supply chain growth.

Neste has announced the acquisition of 100% of Agri Trading, a leading independent trader of renewable waste and residue fats and oils in the United States. This strategic move aims to enhance Neste's renewable raw material sourcing and strengthen its presence in the U.S. Agri Trading, established in 1977 and based in Minnesota, complements Neste's prior acquisition of Mahoney Environmental. The acquisition is subject to customary closing conditions and regulatory approval.

Neste MY Renewable Diesel has become the first renewable diesel brand to receive the TOP TIER™ Diesel Fuel certification, reaffirming its high quality and performance. This certification, backed by major engine manufacturers, signifies Neste's commitment to developing premium renewable diesel that does not compromise performance. The renewable diesel helps fleet operators cut greenhouse gas emissions without additional costs or modifications to engines. Available at over 1,400 delivery points in the U.S., Neste aims to meet growing demand for cleaner fuels.

The Twin Rivers Unified School District in California successfully transitioned 75 diesel-powered school buses to renewable diesel, provided by Neste, achieving a fully fossil-free fleet. This change will result in an 80% reduction in lifecycle greenhouse gas emissions. The switch to Neste MY Renewable Diesel was cost-neutral for the district, promising superior performance and reduced maintenance costs. Neste aims for carbon-neutral production by 2035 and is exploring waste sourcing for further renewable diesel production, contributing to a sustainable circular economy.