Neste increases R&D in Finland to decrease use of crude oil
Photo: Neste Corp.
June 18, 2020
BY Neste Corp.
Neste launched a new research project to develop sustainable and globally scalable raw materials and technology solutions for transportation fuels and the production of chemicals and polymers. These new solutions decrease the use of crude oil and tackle climate change. The new technologies will be based on scalable renewable and circular raw materials that have been difficult to utilize so far, such as forestry or agricultural residues, municipal waste, algae, waste plastics and carbon dioxide.
The commercialization of these raw materials requires long-term research and development of novel value chains with partners. Neste is receiving support for the project from Business Finland and is working closely with companies, research institutes and universities.
“Neste’s target is to become a global leader in renewable and circular solutions,” said Lars Peter Lindfors, senior vice president of innovation at Neste. “Innovation is an important enabler to strengthen our ambitious growth strategy. Our innovation activities focus on renewing the existing businesses and developing new raw materials and technology solutions for transportation fuels as well as chemicals and polymers.”
In the next few years, Neste will increase its investments in research and development as well as create new jobs in innovation in Finland to secure the company’s long-term growth targets. Increasing innovation promotes the competitiveness of Finnish research institutes and industry, and it creates opportunities for new startups.
“We are developing waste carbon sources to substitute crude oil with a five-, 10- or 20-year horizon for significant commercial scale,” Lindfors said. “Lignocellulosics could potentially provide a large pool of sustainable feedstock from agricultural and forestry waste and residues. Municipal solid waste and waste plastic are also interesting raw material sources and could be a relatively short-term solution.”
Advertisement
Further down the road are algae-based solutions, renewable hydrogen and “Power-to-X,” which use CO2 and renewable electricity as raw material sources.
The new raw materials have high potential globally and could replace a significant amount of the world’s crude oil use for transportation fuels by 2040.
Advertisement
Related Stories
In a rapidly evolving energy landscape, the 41st International Fuel Ethanol Workshop & Expo will return June 9–11 to the CHI Health Center in Omaha, Nebraska. The event is recognized as the largest and longest-running ethanol conference in the world.
The U.S. EPA on April 11 reported that 1.82 billion RINs were generated under the RFS in March, down from 1.93 billion generated during the same month of 2024. Approximately 5.34 billion RINs were generated during the first quarter of 2025.
The U.S. EPA on April 17 published updated SRE data showing that five new SRE petitions have been filed under the RFS during the past month. According to the agency, 161 SRE petitions are currently pending,
The Iowa Biodiesel Board and Iowa Soybean Association on April 11 issued a statement expressing deep appreciation to Gov. Kim Reynolds for her biofuels advocacy. Reynolds on April 11 announced that she will not seek another term.
Metro Ports on April 8 announced significant environmental milestone in its voluntary efforts to reduce greenhouse gas emissions. By switching to renewable diesel, the organization reduced its carbon emissions by 85%.
Upcoming Events
