Neste Singapore Celebrates Its 10th Anniversary

(Neste Corporation) Neste, along with Mr. S. Iswaran, Singapore's Minister of Trade and Industry (Industry), Mrs Jayalekshmi Mohideen, Singapore's Ambassador to Finland, and Ms. Paula Parviainen, Finnish ambassador to Singapore, and many distinguished guests celebrated the tenth anniversary of Neste Singapore on November 20, 2017.

Neste decided to make its largest ever investment in renewable refining in November 2007, and Singapore was chosen as the location for the new refinery. The start-up of the Neste Singapore refinery took place three years later, in November 2010, and the production at the world's largest renewable diesel plant has run smoothly ever since.

The refinery produces premium-quality Neste MY Renewable Diesel, which is the most advanced and cleanest diesel fuel on the market today. Thanks to the product's high quality, it can be used in existing engines to achieve up to 90% less GHG emissions than with fossil diesel.

"A lot has happened since the beginning of our journey in Singapore. Concern about the climate and the need for sustainable solutions have emerged, and as Neste has been the first global renewable fuels provide to cater to climate concerns, we have become a global leader in renewable fuels", says Matti Lievonen, Neste's President & CEO.

"Singapore with its stable investment environment, skillful employees, excellent infrastructure and proactive collaboration has supported us during the journey. The government of Singapore has played an important role, and the Singapore Economic Development Board has assisted Neste at every stage of the journey", continues Lievonen.

"We thank Singapore state, EDB, our business partners and suppliers, and other important stakeholders for the excellent cooperation, trust and support over the years. We are very much looking forward to making the next decade a continued success together with you", says Lievonen.

"The Singapore government is proud of our decade long partnership with Neste, and the role of its bio-refinery in Singapore in reducing carbon emissions and combatting climate change. With a growing demand for cleaner fuels globally, we look forward to strengthening our partnership in the years to come," said Chng Kai Fong, Managing Director, Singapore Economic Development Board.

Significant climate action

Since 2010 Neste Singapore refinery has produced altogether close to 6 million tons of renewable diesel to power millions of engines globally, and enabled many companies and cities to switch to renewable diesel. Many well-known brands, such as Google, the city of San Francisco, and the Superbowl, have been using renewable diesel made in Singapore.

"The greatest contribution Singapore refinery has made is its role in the fight against climate change. Neste Singapore refinery is helping customers reduce greenhouse gas emissions by 3 million tons annually. The reduction is equal to the permanent removal of 0.9 million cars from the roads. This is a great achievement for a company and the environment," continues Lievonen.

Neste Singapore refinery has a capacity of 1.1 million metric tons per annum. It uses a variety of renewable, sustainable raw materials, including waste and residues as well as vegetable oils. Neste Singapore employs approximately 120 people. The refinery's impact on the Singapore economy goes beyond the direct employment impact, as the company buys services and utilities from a number of local companies.

Neste has a similar-sized facility in Rotterdam in the Netherlands and two renewable diesel units in Porvoo in Finland. Neste's renewable diesel production capacity totals 2.6 million metric tons annually, and the company is aiming to reach the 3-million-ton milestone by 2020 and 4 million tons by 2022. The main markets for Neste MY Renewable Diesel are Europe and North America.

Further information: Kaisa Hietala, Executive Vice President, Renewable Products, Neste, tel. +358 50 458 4128

Neste (NESTE, Nasdaq Helsinki) creates sustainable choices for the needs of transport, businesses and consumers. Our global range of products and services allows customers to lower their carbon footprint by combining high-quality renewable products and oil products to tailor-made service solutions. We are the world's largest producer of renewable diesel refined from waste and residues, and we are also bringing renewable solutions to the aviation and plastics industries. We want to be a reliable partner, whose expertise, R&D and sustainable practices are widely respected. In 2016, Neste's net sales stood at EUR 11.7 billion, and we were on the Global 100 list of the 100 most sustainable companies in the world. Read more: neste.com READ MORE