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    NESTE   FI0009013296

NESTE OYJ

(NESTE)
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Neste Oyj : renewable fuel oil reduces greenhouse gas emissions from Lumene's manufacturing process

04/26/2021 | 04:18am EDT

Neste Corporation, Press Release, 26 April 2021 at 9 a.m. (EET)

Finnish cosmetics company Lumene introduces Neste MY Non-Road Diesel™ at its factory in Kauklahti, Espoo, Finland, during this spring. The renewable fuel oil replaces the fossil fuel oil previously used at the factory. By switching to a new renewable solution launched by Neste in early 2021, Lumene is able to reduce the greenhouse gas emissions from the production of process steam needed in the product manufacturing by up to 90%* compared to using fossil fuel oil.

"Sustainability is one of Lumene's core values, and ensuring product quality and environmental friendliness throughout our products' life cycle is of paramount importance to us. Over the past year, we have focused on reducing greenhouse gas emissions at our Kauklahti factory, and the introduction of Neste's renewable fuel oil is one concrete change towards this end. By replacing fossil fuel oil with an alternative made from renewable raw materials, we are able to reduce our factory's greenhouse gas emissions here and now", says Kristina Enqvist, Production Director at Lumene.

The only direct emission source at the Lumene factory has been fossil fuel oil. On average, it has accounted for 10% of the factory's total energy consumption. In 2020, the fossil fuel oil use by Lumene produced 192,000 kilos of greenhouse gas emissions. Replacing fossil fuel oil with a renewable alternative reduces emissions on average as much as the removal of 70 passenger cars from Finnish roads for a year.

The renewable fuel oil is also delivered with lower emissions

At the beginning of the year, Neste was the first in Finland to launch a fuel oil made from 100% renewable raw materials. This contributes to Finland's objective of becoming carbon neutral by 2035, and helps the heating and machinery sectors to achieve their goals for emission reduction.

"We are committed to reducing our customers' greenhouse gas emissions by 20 million tons annually by 2030. Our partnership with Lumene will deepen as we work together to reduce the emissions from cosmetics production. When looking at emissions during the products' life cycle, the transportation of the fuel to the factory is also important. Renewable fuel oil is transported from our Porvoo refinery to the Lumene factory in Neste trucks that run on renewable diesel. This way we also reduce emissions from transportation," says Heidi Peltonen, Manager for Sustainable Partnerships at Neste.

"A more sustainable future cannot be achieved alone. Cooperation between partners on sustainability issues is crucial," says Enqvist.

*) 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

Additional information:

Heidi Peltonen, Manager for Sustainable Partnerships, Marketing & Services business unit, 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)).

Jenny Paulamäki, Global Head of PR and Communications, Lumene. Contact information: 050 3491 733 / jenny.paulamaki@lumene.com.

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 2020, Neste's revenue stood at EUR 11.8 billion, with 94% of the company's comparable operating profit coming from renewable products. Read more:neste.com

Disclaimer

Neste Oyj published this content on 26 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 April 2021 08:17:08 UTC.


© Publicnow 2021
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Sales 2021 12 655 M 15 189 M 15 189 M
Net income 2021 1 234 M 1 482 M 1 482 M
Net Debt 2021 104 M 125 M 125 M
P/E ratio 2021 33,2x
Yield 2021 1,52%
Capitalization 40 288 M 48 353 M 48 354 M
EV / Sales 2021 3,19x
EV / Sales 2022 2,89x
Nbr of Employees 4 780
Free-Float 53,6%
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Peter Vanacker President & Chief Executive Officer
Jyrki Mikael Mäki-Kala CFO, Head-Information Technology & Strategy
Matti Kähkönen Chairman
Lars Peter Lindfors Senior Vice President-Innovation
Willem Jan Antoon Schoeber Independent Non-Executive Director
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