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    NESTE   FI0009013296

NESTE OYJ

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Neste Oyj : and Avfuel create strategic partnership for sustainable aviation fuel

01/12/2021 | 09:30am EDT
Neste and Avfuel create strategic partnership for sustainable aviation fuel
Published in Releases and news under Aviation


Neste Corporation, Press Release, 12 January 2021 at 4:10 p.m. (EET)

Neste and Avfuel Corporation announce a strategic partnership to create an efficient, continuous supply of sustainable aviation fuel (SAF) in the United States. Neste will provide Avfuel with SAF in volumes able to meet the growing demands of Avfuel's customers, including fixed base operators (FBOs), airports, flight departments, original equipment manufacturers (OEMs) and commercial operators. Avfuel will be a branded SAF distributor for Neste, and will sell it under the brand name Neste MY Sustainable Aviation FuelTM.

The strategic partnership positions Avfuel as one of the first United States companies able to supply its customers with SAF on a continuous basis. Monterey Jet Center (KMRY) - an Avfuel-branded FBO in Monterey, California - will be the first customer to receive a consistent supply of SAF. With the first delivery scheduled for the first quarter of 2021, Neste and Avfuel will work with Monterey Jet Center to ensure that the supply chain, from production through invoicing, functions smoothly before rolling the program out to a larger customer base.

"This strategic partnership is an exciting development for the industry's sustainability initiative and a natural next step in response to aviation's growing demand for SAF. It combines Neste's leading SAF production and marketing expertise with Avfuel's leading distribution logistics and branding proficiencies for our global network of FBOs and fuel consumers. Together, we are able to support aviation's sustainability goals and enhance supply availability at a commercial scale, filling an immense gap in the industry's supply chain. Avfuel is proud to partner with the Neste team, who demonstrate a deep commitment to aviation and sustainability efforts for a brighter, cleaner world," said Craig Sincock, President and CEO of Avfuel.

"This collaboration is about so much more than just creating a supply chain. We are really providing passengers a meaningful way to reduce their carbon footprint when traveling on a business or private aircraft," said Chris Cooper, Vice President, Renewable Aviation, North America, Neste. "Thanks to great partners like Avfuel, travelers who care about the health of our planet will be able to choose to board an aircraft flying on SAF."

Neste has been at the vanguard of sustainable aviation fuel production for nearly a decade and the company expects to have the capacity to produce some 1.5 million tons (515 million gallons) of SAF annually by 2023. Neste's SAF is made from sustainably sourced, renewable waste and residue materials. It is a drop-in fuel that offers an immediate way to directly reduce greenhouse gas emissions from aircraft, requiring no new investments, modifications or changes to the aircraft or fuel distribution procedures.

Prior to use, Neste MY Sustainable Aviation Fuel is blended with fossil jet fuel and is then certified to meet ASTM jet fuel specifications. In its neat form and over the lifecycle, the use of Neste's SAF can reduce greenhouse gas emissions by up to 80% compared to fossil jet fuel use*.

*) The method used to calculate life cycle emissions and emission reduction complies with the EU Renewable Energy Directive (2009/28/EC).

Neste Corporation

Susanna Sieppi
Vice President, Communications

More information:

Neste:

Chris Cooper, Vice President, Renewable Aviation, North America, Neste. Please contact Neste's media service, tel. +358 50 458 5076 / media@neste.com (weekdays from 8:30 a.m. to 4:00 p.m. (EET)).

Avfuel Corporation:

Marci Ammerman, Vice President Marketing, 734-663-6466, mammerman@avfuel.com, www.avfuel.com, facebook.com/avfuel, Twitter: @Avfuel

Those interested in learning more about sustainable aviation fuel are encouraged to visit avfuel.com/Fuel/Alternative-Fuels or contact Keith Sawyer, manager of alternative fuels, at ksawyer@avfuel.com for more information.

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 renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world's most sustainable companies. In 2019, Neste's revenue stood at EUR 15.8 billion, with 82% of the company's comparable operating profit coming from renewable products. Read more: neste.com

About Avfuel Corporation

Avfuel provides fuel and services to the global aviation industry and is the leading independent supplier in the United States. Established as a supply and logistics company more than 45 years ago, Avfuel is core competent in every aspect that surrounds the delivery of fuel-from refinery to wingtip. Avfuel combines global access with personalized service throughout a fueling network of more than 3,000 locations worldwide and 650+ Avfuel-branded FBOs.Our 100% dedication to aviation demonstrates our passion and commitment to a global community that prospers on the movement of goods and services around the world.

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Disclaimer

Neste Oyj published this content on 12 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 January 2021 14:29:05 UTC


© Publicnow 2021
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