Neste 70 years: from a Finnish oil refiner to the world's largest producer of renewable diesel

Neste Corporation
Press release
9 January 2018 at 9 am (EET)

Neste 70 years: from a Finnish oil refiner to the world's largest producer of renewable diesel

Neste celebrates its 70th anniversary in 2018. Our journey from a Finnish oil refining company to the world's largest producer of renewable diesel from waste and residues has demanded bold solutions and continuous renewal.

'Our company's financial performance is solid, and we offer products and services that help to in tackling the greatest challenge facing our world: climate change. At the heart of our success is our committed personnel, who are passionate about renewal, and about creating new and unique solutions to meet the needs of our customers,' says President and CEO Matti Lievonen. 'For these reasons, the theme of this 70th anniversary year is our defining theme: passion for renewal. We work together to ensure that Neste remains important to future generations as well.'

Neste was founded 70 years ago to secure Finland's supply of oil. The company's refineries were built using American technology, but the company was prepared from day one to use Russian crude oil as its raw material. From the very beginning, Neste has invested heavily in research and development of its business operations. Thanks to this, we have succeeded in skillfully combining formidable industry experience with modern business and environmental values.

We have been pioneers in the development of high quality transport fuels for tough conditions. And we will always continue to break new ground in this area. One of the key goals of Neste's R&D is reducing traffic emissions with the aid of better fuels. This is also an effective means of curbing climate change. An important growth area for us is renewable aviation fuel, since aviation is the mode of transport with the fastest growth. Neste MY Renewable Jet Fuel helps in reducing the carbon footprint of air traffic.

Neste Corporation

Kaisa Lipponen
Director, Corporate Communications

More information: Osmo Kammonen, Senior Vice President, Communications and Brand Marketing, tel. [phone].

Neste in brief

Neste (NESTE, Nasdaq Helsinki) builds sustainable options for transport, business and consumer needs. Our global range of products and services allows customers to lower their carbon footprint by combining high-quality and low-emission renewable products and oil products with 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 with widely valued expertise, research and responsible practices. In 2016, Neste's net sales stood at EUR 11.7 billion, and we were on the Global 100 list of the most sustainable companies in the world. Read more: neste.com