- Neste's SCOOP project aims to develop co-processing technology for tall oil at Porvoo refinery.
- The project is among 61 selected for EU Innovation Fund support from 359 applications.
- EU Innovation Fund grants are sourced from EU Emissions Trading System revenues.
- Investment decision for integrating the technology at Porvoo refinery is pending.
EU Innovation Fund Support
The European Commission has announced funding for 61 innovative technology projects, with Neste's SCOOP project among the selected. This initiative was chosen from 359 applications, highlighting its potential impact.
SCOOP Project Overview
Neste's SCOOP (Sustainable Co-Processing of Challenging Raw materials) project focuses on developing a new co-processing technology for tall oil-based raw materials. This technology is intended for use at Neste's Porvoo oil refinery in Finland. Tall oil, a byproduct from pulp mills, is recognized under the EU Renewable Energy Directive as suitable for advanced biofuel production.
Technological Advancements
The SCOOP project aims to enable the processing of various renewable raw materials into high-quality renewable fuels and feedstock for the polymers and chemicals industry. The integration of this technology at the Porvoo refinery is contingent upon a future investment decision.
Funding and Next Steps
EU Innovation Fund grants are financed through the EU Emissions Trading System revenues. These grants aim to bolster Europe's technological leadership and expedite the deployment of innovative clean technologies. The selected projects, including SCOOP, will now enter the grant agreement preparation phase with the European Climate, Infrastructure and Environment Executive Agency. This phase involves finalizing the funding contract, confirming the budget, timetable, technical deliverables, and legal responsibilities.
