Neste, Stora Enso end plans for joint renewable diesel project

By Neste Oil Corp. | August 21, 2012

Neste Oil and Stora Enso have decided not to progress with their plans to build a renewable diesel plant, for which the two companies had applied for funding under the EU's NER 300 program. The European Commission recently published a review on its website of projects that have applied for NER funding, and Neste Oil's and Stora Enso's project is not among those listed as scheduled to receive this funding.

“We have calculated the cost of the project very carefully and realistically,” said Neste Oil's president and CEO Matti Lievonen and Stora Enso's CEO Jouko Karvinen. “It would have represented a very significant investment and we concluded that we would not have gone ahead in any case, even if we had won public funding.”

The trials carried out by Neste Oil and Stora Enso at a pilot plant in Varkaus between 2009 and 2011 on the entire chain needed for the planned plant—from wood biomass to biowax suitable for use as a raw material for producing renewable diesel—proved very successful.

“Technically speaking, our work was a great success and we are very satisfied with what we achieved,” added Lievonen and Karvinen. “Cooperation between the two companies has also been very smooth and will continue in the future in the area of other biobased products.”

 

 
 
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