Neste Oil Corporation
22 June 2011 at 1.00 p.m
Neste Oil commits itself to 2020 targets for aviation biofuels
Neste Oil committed itself today, 22 June, to a European Aviation Biofuels Flightpath introduced in Paris aimed at increasing the use of aviation biofuels to 2 million tons annually by 2020. The signatories to the Flightpath - the European Commission, industry representatives, members of the financial community, and various NGOs - have committed themselves to working together to make the Flightpath a reality.
The joint goal is to ensure that aviation biofuels are produced sustainably and are suitable for use by aircrafts flying on commercial routes. The aim is also to support the development of new innovations in the field and create the economic and legislative mechanisms needed to encourage the uptake of these new fuels.
"The Fligthpath announced today is very much in line with Neste Oil's goals," says Janne Mielck, Neste Oil's Vice President, Business Development. "We are already capable of producing NExBTL renewable aviation fuel from sustainably produced inputs on an industrial scale. Our R&D aimed at extending our raw material base and developing our refining capabilities supports the overall intent of the new Flightpath."
"NExBTL renewable aviation fuel complies with the toughest quality standards and offers airlines an easy and highly effective solution for reducing their greenhouse gas emissions. We also believe that aviation biofuels could ultimately be used to fulfill the national biomandates that are currently being fulfilled mostly with road traffic fuels," Janne Mielck continues.
Produced by hydrotreating renewable raw materials, NExBTL aviation fuel is compatible with all aircraft engines currently in use. Production is based on Neste Oil's proprietary technology, which can make use of a flexible range of various types of vegetable oil and waste-based inputs, such as animal fat from the food industry. Neste Oil is committed to only using verifiably sustainable and fully traceable raw materials that can be tracked all the way back to the original source.
Neste Oil Corporation
Director, Group Communications
Janne Mielck, Vice President, Business Development, tel. +358 50 458 4577
Neste Oil in brief
Neste Oil Corporation is a refining and marketing company concentrating on low-emission, high-quality traffic fuels. The company produces a comprehensive range of major petroleum products and is the world's leading supplier of renewable diesel. The company had net sales of EUR 11.9 billion in 2010 and employs around 5,000 people. Neste Oil's share is listed on the NASDAQ OMX Helsinki.
Neste Oil has been selected into the Dow Jones Sustainability World Index and is also featured in the Ethibel Excellence investment register. The company is included in The Global 100 list of the world's most sustainable corporations. Forest Footprint Disclosure (FFD) has ranked Neste Oil as the best performer in the oil & gas sector. Further information: www.nesteoil.com