Finland's Neste Oil sells first biodiesel to US market
Finland's Neste Oil has recently supplied its first batch of NExBTL renewable diesel to the US market, the company confirmed on Wednesday.
The fuel, which qualifies as an advanced biofuel in the US, was produced at the company's Porvoo refinery in Finland from waste fats.
"We are very pleased to see that legislation on renewable fuels and our ability to meet the import regulations for these types of fuels are progressing in various markets,” said Matti Lehmus, Neste Oil's executive vice president for oil products and renewable.
“This enables us to participate and contribute to the greenhouse gas reduction efforts around the world," he continued. "Our entry into the US renewable fuel market is an important milestone for us, as the US represents a major market for premium-quality biofuels.”
NExBTL renewable diesel is an ideal low-carbon fuel for the US market because it is compatible with existing infrastructureand is accepted within the existing refinery and pipeline distribution system, Lehmus added.
"In addition to the US, we have also expanded our customer base in Europe as well, opening up new opportunities for NExBTL sales as we go forward," said Lehmus.
Neste Oil says it sold 305,000 tons of NExBTL renewable diesel to several dozens of customers in over 10 countries during the first quarter of 2012.
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