Neste to acquire US-based Agri Trading

September 7, 2021

BY Neste Corp.

Neste has agreed to acquire 100 percent of Agri Trading, one of the largest independent renewable waste and residue fat and oil traders in the United States, and its affiliate entities. The transaction is subject to the completion of customary closing conditions and regulatory approval.

“This agreement supports our renewables growth strategy and further strengthens our global renewable raw material sourcing as well as our footprint in the United States. Agri Trading complements our previous acquisition of Mahoney Environmental in the United States with its wide trading network of renewable raw materials compounded with efficient logistics. I am happy to welcome Agri Trading to be part of Neste’s journey in creating a healthier planet for our children,” says Neste’s President and CEO Peter Vanacker.

Advertisement

Advertisement

“Combating climate change is an urgent priority for the United States, and renewable products are a much needed part of the solution because they enable climate action now,” says Jeremy Baines, president, Neste US Inc. “With this transaction, I am proud to say that Neste is collecting and turning even more locally sourced feedstock into renewable products to power America’s transport system, keeping new greenhouse emissions out of the atmosphere and cutting pollution.”

Neste refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. This is possible thanks to its proprietary NEXBTL technology – a unique platform that allows the company to turn a wide variety of renewable waste and residues and oils into premium fuels and other products. 

Agri Trading is based in Minnesota and was established in 1977. It has become an industry leader in trading animal fat waste, used cooking oil, technical corn oil, and other vegetable oils throughout the lower 48 States, Canada, Mexico, and Europe. The company manages all aspects of transportation, logistics, transloading, and export services, providing on-time pick-up and delivery.

Advertisement

Advertisement

The transaction supports Neste in its efforts to build a solid, resilient and flexible global waste and residue raw material platform that can keep pace with the customer’s growing demand for renewable products. Together with previously announced acquisitions of IH Demeter, Bunge Loders Croklaan and Count Terminal in the Netherlands, and Mahoney Environmental in the United States, Agri Trading will also enhance Neste’s competitiveness in the global waste and residue raw material market.

 

 

Related Stories

The U.S. Energy Information Administration maintained its forecast for 2025 and 2026 biodiesel, renewable diesel and sustainable aviation fuel (SAF) production in its latest Short-Term Energy Outlook, released July 8.

Read More

XCF Global Inc. on July 10 shared its strategic plan to invest close to $1 billion in developing a network of SAF production facilities, expanding its U.S. footprint, and advancing its international growth strategy.

Read More

U.S. fuel ethanol capacity fell slightly in April, while biodiesel and renewable diesel capacity held steady, according to data released by the U.S. EIA on June 30. Feedstock consumption was down when compared to the previous month.

Read More

XCF Global Inc. on July 8 provided a production update on its flagship New Rise Reno facility, underscoring that the plant has successfully produced SAF, renewable diesel, and renewable naphtha during its initial ramp-up.

Read More

The U.S. EPA on July 8 hosted virtual public hearing to gather input on the agency’s recently released proposed rule to set 2026 and 2027 RFS RVOs. Members of the biofuel industry were among those to offer testimony during the event.

Read More

Upcoming Events

Sign up for our e-newsletter!

Advertisement

Advertisement