- Business
- Neste Oyj, headquartered in Espoo, Finland, and founded in 1948, creates renewable and circular economy solutions, serving as the world's leading producer of sustainable aviation fuel and renewable diesel. The company operates through segments including Renewable Products, Oil Products, Marketing & Services, and Others; it manufactures and markets renewable diesel, sustainable aviation fuel, renewable feedstock for plastics and chemicals, gasoline, diesel, aviation and marine fuels, light and heavy fuel oils, base oils, gasoline components, special fuels, solvents, liquefied petroleum gases, bitumen, and associated digital solutions for lower-emission fuels and EV charging. Neste conducts operations in 14 countries across Finland, other Nordic countries, the Baltic Rim, other European countries, the United States, and internationally, targeting business customers such as retailers, distributors, oil majors, trading companies, petrochemical firms, transport service providers, aviation, shipping, industrial, agricultural sectors, municipalities, and heating fuel customers. In recent developments, Neste establishes a strategic collaboration with Lotte Chemical to supply Neste RE renewable raw materials for chemicals and plastics production at Korean sites, replacing fossil resources; receives EU Innovation Fund support for a new co-processing technology; celebrates 15 years of refining in Singapore; sells its Kilpilahti electricity grid to Aurora Infrastructure to accelerate green transition; and completes the divestiture of its NAPCON digital technology portfolio to Lummus Technology, alongside ongoing transformations at its Porvoo refinery to achieve carbon-neutral production by 2035.