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    NESTE   FI0009013296

NESTE OYJ

(NESTE)
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Neste Oyj : and Airbus join forces to advance the use of 100% Sustainable Aviation Fuel as a key solution to helping reduce greenhouse gas emissions in aviation

11/30/2022 | 06:22am EST

Neste Corporation, Press Release, 30 November 2022 at 1 p.m. (EET)

Neste and Airbus have signed an agreement to advance the use of sustainable aviation fuel (SAF) within the aviation sector. Both parties share a vision that SAF is a key solution to helping reduce greenhouse gas emissions of air travel. This collaboration aims to accelerate the aviation sector's transition to SAF.

Reaching the aviation industry's ambitious "net zero carbon emissions by 2050" goal, requires different measures to be deployed, including fuel-efficient aircraft technologies, improved operations and ground infrastructures, as well as deployment of sustainable aviation fuel.

Neste and Airbus recognize that one of the biggest challenges in accelerating SAF use is the ramp-up of SAF production. This collaboration is laying the foundation for Airbus and Neste to explore business opportunities together and jointly promote the production and use of sustainable aviation fuel. The focus will be on the technical development of SAF, fuel approval and testing of current and future production technologies, and investigating how "100% SAF" use can be enabled.

"Neste is at the forefront of accelerating the aviation sector's journey to a more sustainable future. That journey requires cooperation across the industry's value chain. This collaboration with Airbus connects a pioneer in the aerospace industry with a leader in renewable fuels. The combined knowledge and expertise of the companies will help advance the use and availability of SAF as a means of transitioning aviation towards more sustainable energy sources and reducing the climate impact of aviation," said Thorsten Lange, Executive Vice President, Renewable Aviation at Neste.

"At Airbus, we believe SAF is one of aerospace's most promising decarbonisation solutions that can be used in both in-service aircraft fleets and those of tomorrow. We are proud to partner with Neste and drive forward the development and uptake of SAF, stimulating the creation of a commercially viable market for renewable aviation fuels," says Julie Kitcher, EVP Communications, Sustainability and Corporate Affairs, Airbus. "All Airbus aircraft are already certified for flying with up to 50% SAF, and this partnership will be instrumental to reaching certification for 100% SAF by the end of the decade."

The agreement between Neste and Airbus builds on the cooperation in the ECLIF3 research project, the world's first in-flight emissions study using 100% SAF on a wide-body commercial passenger aircraft, with Rolls-Royce and German research centre DLR. Following the collaboration in the ECLIF3 project, Airbus and Neste will be further working on the technical aspects of the challenge to reach the 100% SAF certification.

SAF delivers the performance of conventional jet fuel but with a significantly smaller carbon footprint on a life cycle basis. Using Neste MY Sustainable Aviation Fuel™ reduces greenhouse gas emissions by up to 80%* over the fuel's life cycle compared to using fossil jet fuel. Neste MY Sustainable Aviation Fuel is produced from sustainably sourced 100% renewable waste and residue raw materials, including used cooking oil and animal fat waste. Prior to use, SAF is blended with conventional jet fuel and works seamlessly with existing fueling infrastructure and aircraft engines.

*) When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology

Neste Corporation

Susanna Sieppi
Vice President, Communications

Further information: Please contact Neste's media service, tel. +358 800 94025 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste's releases at https://www.neste.com/for-media/releases-and-news/subscribe.

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world's leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We have committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We also have set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world's most sustainable companies. In 2021, Neste's revenue stood at EUR 15.1 billion. Read more: neste.com

About Airbus

Airbus pioneers sustainable aerospace for a safe and united world. The Company constantly innovates to provide efficient and technologically-advanced solutions in aerospace, defence, and connected services. In commercial aircraft, Airbus offers modern and fuel-efficient airliners and associated services. Airbus is also a European leader in defence and security and one of the world's leading space businesses. In helicopters, Airbus provides the most efficient civil and military rotorcraft solutions and services worldwide.

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Disclaimer

Neste Oyj published this content on 30 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 November 2022 11:21:06 UTC.


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Sales 2022 25 473 M 27 643 M 27 643 M
Net income 2022 2 035 M 2 209 M 2 209 M
Net Debt 2022 1 414 M 1 534 M 1 534 M
P/E ratio 2022 16,5x
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Nbr of Employees 5 326
Free-Float 62,8%
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