- Neste acquires Bunge's Rotterdam refinery for 258 million euros.
- Full pretreatment capacity available by end of 2024.
- Renewables production capacity to expand from 3.2 to 4.5 million tons by Q1 2023.
- Neste aims for 100% waste and residue feedstock by 2025.
Acquisition Details
Neste has agreed to acquire Bunge Loders Croklaan's refinery plant in Rotterdam for 258 million euros. The plant includes a pretreatment facility, tank farm, jetties, and a pipeline connection to Neste’s existing biorefinery. The transaction is subject to customary closing conditions and regulatory approval, with full pretreatment capacity expected by the end of 2024.
Strategic Goals
This acquisition supports Neste's global growth strategy in renewables by enhancing its renewable raw material pretreatment capacity. Neste aims to increase the share of waste and residues in its feedstock mix to 100% by 2025 and achieve over 20 million tons of greenhouse gas reductions for its customers by 2030.
Production Capacity Expansion
To meet the growing demand for renewable diesel, sustainable aviation fuel, and chemical feedstock, Neste plans to expand its renewables production capacity from 3.2 to 4.5 million tons by the first quarter of 2023. The expansion includes a 1.3 million ton increase from the Singapore facility. The newly acquired refinery will further support this growth by handling complex waste and residue feedstocks.
Operations in the Netherlands
Neste has been active in the Netherlands since 2011, with its Rotterdam facility being one of the world's largest and most advanced renewable fuels refineries. The company also operates a plant in Sluiskil for storage and pretreatment of renewable raw materials and a terminal in Rotterdam for storing, refining, and blending renewable waste and residue-based raw materials. In 2019, Neste opened an office in Hoofddorp to serve as the global hub for its Renewable Aviation business.
