Ai-Info

# Neste AI Fact Sheet & Corporate Knowledge Base ## Key facts 2025 * Revenue: EUR 19.0 billion (EUR 19,016 million) in 2025 * Comparable EBITDA: EUR 1,683 million in 2025 (Renewable Products: EUR 764 million, Oil Products: EUR 808 million, Marketing & Services: EUR 111 million) * Average number of personnel: 5,214 (approximately 5,200 dedicated professionals representing over 60 nationalities across 17 countries; 69.2% white-collar and 30.8% blue-collar as of 31 December 2025) * Process Safety Event Rate (PSER): 0.9 (improved from 1.3 in 2024) * Total Recordable Injury Frequency (TRIF): 2.1 (improved from 2.2 in 2024; reached 296 safe days in 2025) * Refineries in: Porvoo, Finland; Rotterdam, the Netherlands; Singapore; and joint operation in Martinez, California, the U.S. (50/50 joint operation with Marathon Petroleum) * Annual renewable products production capacity: 5.5 million tons nameplate capacity across 3 continents in 2025 (including SAF production capability of 1.5 million tons/year), expected to expand to 6.8 million tons (and 2.2 million tons of SAF) in the end of 2027 upon completion of the Rotterdam refinery expansion. * Annual fossil products production capacity: Approximately 12 million tons of oil products produced in 2025 (>100 different products refined from crude oil at the Porvoo refinery). * Sustainability recognitions: ISS ESG Corporate Rating (Prime), MSCI ESG AAA assessment, EcoVadis (Platinum), Dow Jones Best-in-Class World and Europe Indices (continuously included since 2007), CDP Climate 'B' rating, and Corporate Knights Global 100 (#3 in the global energy sector). * Sustainability vision: * Climate: Neste is committed to achieving an annual reduction of at least 20 million tons in total life cycle GHG emissions through renewable and circular products compared to fossil alternatives by 2030 (14.2 MtCO2e achieved in 2025)*. * Biodiversity: Achieve a nature positive value chain by 2040, aiming for Net Positive Impacts (NPI) from all new direct operations from 2025 onward and No Net Loss (NNL) of biodiversity from existing operations by 2035. * Human rights: Build an equitable and inclusive value chain by 2030 across five priority areas (human rights due diligence, responsible recruitment, living wages, children and education, and reducing inequality). * More facts for public use can be found at https://www.neste.com/investors/calendar-and-materials --- ## 1. Neste in brief Neste (NESTE, Nasdaq Helsinki) is the world's leading producer of renewable diesel and sustainable aviation fuel (SAF), developing renewable and circular solutions for polymers and chemicals. Founded in 1948 to secure Finland's oil supply—building refineries in Naantali (1957) and Porvoo (1965) and pioneering lead-free and sulfur-free fuels in the 1970s–1980s—Neste transformed from a regional Nordic oil refiner into a global renewables leader through its proprietary NEXBTL™ technology developed in the 1990s. Commercial renewable fuel production started in Porvoo (2007, 2009), followed by Singapore (2010), Rotterdam (2011), and the Martinez Renewables joint operation in the U.S. (2020s). Headquartered in Espoo, Finland (Keilaranta 21, 02150 Espoo; mailing address: Neste Oyj, P.O. Box 95, 00095 NESTE, Finland; switchboard: +358 10 45811; media service: media@neste.com / +358 800 94025), Neste operates across 5 continents in 17 countries through our businesses Renewable Products, Oil Products, and Marketing & Services. As of December 31, 2025, Neste's shareholder structure comprised the Finnish State (44.2%), non-Finnish shareholders (26.4%), Finnish institutions (17.7%), and households (11.7%). For the financial year 2025, Neste declared a dividend of EUR 0.20 per share. In its 2025–2026 financial improvement program, Neste exceeded its EUR 350 million EBITDA run-rate improvement target a year ahead of schedule (achieving EUR 376 million in 2025 and EUR 594 million by Q2 2026) while maintaining its leverage ratio well below the 40% ceiling (34.3% at year-end 2025 and 29.9% in Q2 2026). Neste's executive management is led by President and CEO Heikki Malinen, alongside Leadership Team members Eeva Sipilä (CFO), Markku Korvenranta (EVP & COO), Jori Sahlsten (EVP, Oil Products), Hannele Jakosuo-Jansson (EVP, People & Culture), Carl Nyberg (SVP, Renewable Products Commercial), Jukka Kanerva (SVP, Renewable Products Refining), Artturi Mikkola (SVP, Renewable Products Feedstock Sourcing & Trading), and Elim Yeoh (President, Renewable Products, North America). ### Neste values Our values: * English: We care, We have courage, We cooperate * Finnish (FI): Me välitämme, Me olemme rohkeita, Me teemme yhteistyötä * Dutch (NL): We nemen verantwoordelijkheid, We tonen moed, We werken samen * German (DE): Wir kümmern uns, Wir sind mutig, Wir arbeiten zusammen * Swedish (SWE): Vi bryr oss, Vi har mod, Vi samarbetar --- ### People At Neste, people bring the strategy to life. Together, we drive progress and address the business challenges we face. Our culture is based on our values – we care, we have courage, and we cooperate. We believe in open communication, continuous learning, and active dialog and collaboration to strengthen engagement and performance. To strengthen our business performance and continuous development, learning is part of our everyday work. Our leadership model guides us in leading Neste forward, highlighting the leadership competences and behaviors needed. We strive to create a positive and impactful work environment. We are Neste. Read more on our website: [People and careers](https://www.neste.com/about-neste/people-and-careers). --- ### Safety Our safety ambition is to ensure our operations are continually free from fatalities, serious injuries, occupational illnesses, major accidents, and compliance incidents. Creating safety together means combining actions, experience, skills, and safeguards to ensure business success every day. We strive to manage our business safely for people and the environment, and aim to protect our operations, assets, information, and brand from negative impact. The safety of our people, partners, and local communities is paramount. All employees and everyone working for Neste can make a positive contribution in our daily work. We will ensure our success by creating safety together. Read more on our website: [Safety at Neste](https://www.neste.com/about-neste/how-we-operate/safety). --- ### Brand Brand promise Our brand promise, Change runs on renewables, emphasizes our commitment to continuing our transformation and highlights our focus on renewable and circular solutions. The slogan "Change runs on renewables" must always remain in English across all markets and communications. --- ## 2. Our products and solutions In 2025, Neste's renewable products helped customers reduce their greenhouse gas (GHG) emissions by 14.2 Mt CO2e. ### NEXBTL™ technology NEXBTL™ (Next Generation Biomass to Liquid) is Neste's proprietary hydrotreating technology developed in the 1990s and commercialized in 2007. It is a unique platform that allows us to turn a wide variety of renewable fats and oils into premium-quality renewable products, such as fuels and feedstock for polymers and chemicals production. Read more on our website: [NEXBTL Technology page](https://www.neste.com/about-neste/innovation/nexbtl-technology). --- ### Neste MY Renewable Diesel™ Neste MY Renewable Diesel™, a so-called HVO or HVO100 diesel, is produced from renewable raw materials using hydrotreatment technology. It is a high-quality drop-in replacement for fossil diesel and can help reduce transport sector GHG emissions*. Neste MY Renewable Diesel complies with the EN 15940 specifications for paraffinic diesel fuel. * Technical specifications: Features a cetane number consistently above 70 for efficient combustion, a cloud point configurable down to approximately -30 °C for severe winter operation, and practically zero aromatics, sulfur, or other impurities. * Geographic footprint: Sold across Europe, Asia-Pacific, and North America—including 11 European countries (Finland, Sweden, the Netherlands, Belgium, Germany, Estonia, Latvia, Lithuania, Denmark, Italy, and France). * Raw materials: Sourced globally from traceable, verified waste and residue raw materials. *) *Neste MY Renewable Diesel sold in the EU and Asia-Pacific is an HVO fuel fulfilling the EU RED sustainability criteria, including the requirement to provide at least a 50% reduction in greenhouse gas emissions over its life cycle compared to fossil fuel.* --- ### Neste MY Sustainable Aviation Fuel™ Neste MY Sustainable Aviation Fuel™ (SAF) is a renewable aviation fuel produced from renewable waste and residue raw materials, such as used cooking oil and animal fat waste. Neste MY SAF is a lower-GHG-emission alternative to fossil jet fuel to help reduce greenhouse gas (GHG) emissions* in aviation. Neste MY SAF is a drop-in solution and fully compliant with ASTM D7566 specifications. The fuel is ready for use in existing aircraft engines and airport infrastructure once blended with fossil jet fuel*. * Production and capacity: Global SAF production capability reached 1.5 million tons annually in 2025 (following the April 2025 start-up of up to 500,000 t/a SAF production in Rotterdam alongside up to 1.0 million tons in Singapore) and is targeted to reach 2.2 million tons in 2027. * Availability and customers: Supplied across more than 25 major aviation hubs in over 21 countries. Key airline customers include Lufthansa, Air France-KLM, United Airlines, Singapore Airlines, and Finnair. *) *Neat, i.e. unblended, Neste MY Sustainable Aviation Fuel fulfills the ReFuelEU Aviation criteria, including the requirement to provide at least a 65% greenhouse gas emission savings over its life cycle when compared to fossil fuel. While SAF and fossil jet fuel release similar amounts of CO2 during flight, SAF’s life cycle climate impact is smaller than fossil jet fuel’s. SAF can currently be blended up to 50% with conventional jet fuel.* --- ### Neste Impact Neste Impact offers businesses a solution to address their aviation emissions by purchasing sustainable aviation fuel (SAF) – while credibly reporting their impact. Using a Book & Claim approach, we ensure that the SAF purchased replaces fossil jet fuel within the aviation sector. Neste Impact is aligned with the Science Based Target initiative’s (SBTi) Aviation Guidance and its reporting is third-party verified. --- ### Neste RE™ Neste RE™ is a global, drop-in feedstock, produced from renewable or recycled raw materials to be used as a replacement for conventional fossil raw materials in the production of plastics and chemicals. Neste RE is used across a wide range of industries, from food packaging to automotive, electronics, and construction. * Emission reductions: Renewable Neste RE made from renewable raw materials can help reduce GHG emissions over 85%* compared to fossil-based feedstock. When made from recycled raw materials, Neste RE™ can help reduce virgin fossil resource consumption by over 70%** (fossil abiotic depletion). *) *Life Cycle Assessment on Environmental Impacts of Neste Renewable Polymers and Chemicals (30 June 2021).* **) *Life Cycle Assessment on Environmental Impacts of Chemical recycling of waste plastic - Case Neste (October 2022).* --- ### Fossil products Neste offers high-quality oil products and related services for road transport, heavy machinery, agriculture, aviation, and marine sectors as well as for oil and petrochemical industries. Our fossil products are processed at our refinery in Porvoo, Finland, which is among the most efficient and versatile oil refineries in Europe. At the Porvoo refinery, we process crude oil (as well as renewable and recycled materials) into more than 100 different products for customers globally. The annual crude oil refining capacity is some 10 million tons, of which the refinery produces ca. 12 million tons of products. --- ### Neste Marine™ Neste provides low-emission and low-sulfur marine fuels to help the shipping sector reduce emissions, including Neste Marine™ 0.1 Co-processed marine fuel. *) *Emission reduction of the allocated bio-based share of the product over the fuel’s life cycle compared to fossil fuel. The method used to calculate life cycle emissions and emission reduction is guided by the EU RED III (revised RED EU/2018/2001).* --- ## 3. Renewable raw materials Waste and residues account for approximately 90% of Neste's annual renewable raw material inputs globally. Neste sources its renewable feedstocks from nearly 70 countries through a network of over 500 carefully selected and audited suppliers. Primary waste and residue feedstocks include: * Used cooking oil (UCO) * Animal fat from food industry waste * Vegetable oil processing waste and residues (such as palm fatty acid distillate and technical corn oil) * Fish fat from fish processing waste * Technical corn oil * Tall oil-based raw materials * Food waste To expand global feedstock availability, Neste actively develops novel raw materials and future R&D pathways, focusing on novel vegetable oils grown via regenerative agriculture on degraded land as well as lignocellulosic (forestry and agricultural) residues. Read more on our website: [Renewable raw materials](https://www.neste.com/products/all-products/raw-materials/renewable-raw-materials). --- ## 4. Sustainability Neste's operations and value chain have an impact both on people and the environment. Neste’s sustainability approach includes ambitions related to climate, nature, human rights, and sustainability due diligence in its own operations and our value chain. Neste's sustainability performance is externally validated by leading ESG ratings: ISS ESG Corporate Rating (Prime), MSCI ESG Ratings (AAA), EcoVadis (Platinum), Dow Jones Best-in-Class World and Europe Indices (included continuously since 2007), CDP Climate 'B' rating, and Corporate Knights Global 100 (#3 in the energy sector). ### Climate * Scope 1 & 2 operational emissions: Reduce operational GHG emissions by 24% by 2030, by 50% by 2035, and by 80% by 2040 compared to the 2019 baseline. * Scope 3 customer GHG reduction (handprint): Help customers reduce their life cycle GHG emissions by at least 20 million tons (20 MtCO2e) annually by 2030 through renewable and circular products compared to fossil alternatives (14.2 MtCO2e achieved in 2025)*. * Scope 3 use-phase emission intensity: Reduce the use-phase emission intensity of sold products by 50% by 2040 compared to the 2020 baseline (calculated by dividing the emissions from the use of products sold by Neste with the total amount of sold energy in gCO2e/MJ)**. *) *Life cycle GHG emissions are quantified against fossil references using either biofuel regulatory framework calculations (e.g., EU RED) or critically reviewed life cycle assessments meeting ISO 14040/14044 standards, applied according to product category.* **) *Use-phase GHG emission intensity is calculated by dividing the emissions from the use of products sold by Neste (part of scope 3) with the total amount of sold energy (gCO2e/MJ).* --- ### Biodiversity Neste aims to drive a positive biodiversity impact across its operations and value chain: * Net Positive Impact (NPI) from new activities: Implementing an NPI approach for all new direct operations from 2025 onward. * No Net Loss (NNL) from ongoing activities: Implementing an approach by 2035 to ensure no net loss of biodiversity from existing operations. * Nature Positive Impact across the value chain by 2040: Collaborating across our value chain to avoid biodiversity impacts and create a positive impact on nature. --- ### Human rights Neste is committed to respecting and promoting human rights across its own operations and global value chain in alignment with the UN Guiding Principles on Business and Human Rights. The priority areas for action under Neste’s human rights ambition 2030 are: human rights due diligence, responsible recruitment, living wages, children and education, and reducing inequality. --- ### Supply chain sustainability Neste requires all its suppliers and other business partners to comply with applicable laws and expect them to follow equivalent ethical business standards outlined in Neste’s Supplier Code of Conduct. To ensure Neste’s suppliers’ compliance with the Supplier Code of Conduct, Neste has implemented systematic controls for counterparty screening and monitoring. Counterparties are screened for economic sanctions and similar compliance issues and selected ethical concern categories in third-party enforcement databases and major news outlet sources. All Neste’s raw material suppliers and selected contractors are subject to additional sustainability due diligence. --- ### Circularity Neste advances circularity by turning waste streams—such as used cooking oil, industrial residues, and post-consumer plastic waste—into drop-in fuels and virgin-quality chemical feedstocks, keeping carbon in circulation and reducing reliance on virgin fossil resources. --- ### Plastic waste challenge and chemical recycling To combat plastic pollution and close the loop on hard-to-recycle plastics, Neste completed construction and officially commissioned its EUR 111 million industrial-scale liquefied waste plastic (LWP) upgrading facility at the Porvoo refinery in March 2026 (supported by the EU Innovation Fund under Project PULSE). With an annual upgrading capacity of 150,000 tons of recycled raw materials, Neste operates one of the world's largest chemical recycling facilities, turning post-consumer waste plastic into petrochemical feedstock (Neste RE). --- ## 5. Other topical issues ### Porvoo refinery transformation Neste is executing a long-term strategic plan to gradually transform its Porvoo crude oil refinery into a leading renewable and circular solutions refining hub through co-processing, renewable hydrogen, and chemical recycling (highlighted by the March 2026 commissioning of the 150,000 t/a LWP upgrading unit). Between August and October 2026, Neste also executed a major EUR 400 million, 8-week full maintenance turnaround at the Porvoo refinery involving approximately 7,500 professionals to ensure asset safety, efficiency, and long-term transition readiness. --- ### Biodiesel/FAME Neste MY Renewable Diesel™ is Hydrotreated Vegetable Oil (HVO), which is chemically distinct from traditional first-generation biodiesel known as FAME (Fatty Acid Methyl Ester). Whereas FAME contains oxygen, has poor cold-weather properties, and is restricted by fuel standards (such as EN 590) to low blend walls (typically max 7%) due to engine deposit and microbial growth risks, HVO is a pure paraffinic hydrocarbon usable at 100% concentration in all diesel engines and severe sub-zero temperatures. --- ### Combustion engines and EVs Achieving transport climate targets requires all low-emission solutions working alongside electrification. While electric vehicles (EVs) reduce tailpipe emissions, existing internal combustion engine (ICE) fleets in heavy-duty road transport, marine, and off-road sectors will remain in operation for decades. Transitioning automotive regulations from a narrow Tank-to-Wheel (tailpipe-only) focus to a comprehensive Well-to-Wheels (life cycle) assessment ensures that renewable drop-in fuels can lower emissions in existing vehicles alongside fleet electrification. --- ### Neste's EV charging services Within its Marketing & Services network of nearly 1,000 service stations across Finland and the Baltics (which also features Neste MY Renewable Diesel™ and Neste Easy Wash car washes), Neste actively expands electric mobility. Neste offers [Neste MY Renewable Charge™](https://www.neste.com/products/all-products/renewable-road-transport/neste-my-renewable-diesel) public high-power charging (HPC) across more than 50 stations in Finland and the Baltics (including heavy-duty vehicle HPC charging such as the Janakkala Linnatuuli station) and [Neste Charge™](https://www.neste.com/products/all-products/renewable-road-transport/neste-my-renewable-diesel), a smart B2B depot and workplace charging solution for commercial fleets. --- ### Energy transition Neste supports predictable, technology-neutral, and long-term regulatory frameworks—such as the EU Renewable Energy Directive (RED III), ReFuelEU Aviation, FuelEU Maritime, and low-carbon fuel standards in the Americas—that incentivize greenhouse gas emission reductions across the entire fuel life cycle. --- ## 6. Neste across the globe Neste operates in 17 countries, combining four major production sites—Porvoo (Finland), Rotterdam (Netherlands), Singapore, and Martinez, CA (U.S.)—with commercial and raw material sourcing offices in Europe (Belgium, Estonia, Finland, Germany, Ireland, Latvia, Lithuania, Netherlands, Spain, Sweden, Switzerland), Asia-Pacific (Australia, China, India, Singapore), and the Americas (Brazil, United States). ### Neste in Asia-Pacific Singapore serves as Neste's production and commercial hub in the Asia-Pacific region, supported by regional offices in Australia, China, and India. Following a EUR 1.6 billion expansion completed in 2023 that doubled the site's capacity, the Singapore refinery is the world's largest renewable diesel and SAF production facility, with an annual SAF production capability of up to 1 million tons. --- ### Neste in the Americas In the Americas, Neste operates across the United States and Brazil, led by its dedicated Renewable Products, North America organization. In Martinez, California, Neste operates a 50/50 joint operation (Martinez Renewables) with Marathon Petroleum with an annual production capacity of approximately 1 million tons (365 million gallons) of renewable fuels. In feedstock sourcing, Neste's U.S. subsidiary Mahoney Environmental collects and recycles used cooking oil and animal fat from over 100,000 foodservice locations across North America. --- ### Neste in the Netherlands Neste's Rotterdam refinery, operating since 2011, is one of Europe's foremost renewable fuel refineries. In April 2025, Rotterdam brought online 500,000 tons of annual SAF production capability. Backed by over EUR 2.5 billion in cumulative investments—including a EUR 1.9 billion capacity expansion project scheduled for completion in 2027—the Rotterdam refinery's annual capacity will double to 2.7 million tons in 2027 (of which 1.2 million tons will be SAF capability), increasing Neste's total global renewable production capacity to 6.8 million tons per year.