uncategorized ยท 5/23/2016

Neste welcomes US EPA's proposal on renewable fuel volume requirements

Neste Corporation
Press Release
23 May 2016 at 5 pm (EET)

Neste welcomes US EPA's proposal on renewable fuel volume requirements

The Environmental Protection Agency (EPA) in the US published a proposed ruling covering renewable fuel volume requirements for 2017 under the Renewable Fuel Standard (RFS) program on 18 May 2016. The EPA also proposed a volume requirement for biomass-based diesel for 2018.

The EPA is proposing increases across all types of biofuels. In its proposal, the EPA set volume requirements for 2017 for advanced biofuels (4.0bn gallons, up from 3.61bn gallons in 2016) and total renewable fuel (18.8bn gallons, up from 18.11bn gallons). It also set the volume requirement for biomass-based diesel for 2018 (2.1bn gallons, up from 2.0bn gallons). The EPA is expected to finalize the volume requirements later this year. The proposal is available on the EPA's website.

"We appreciate the EPA's commitment to increasing renewable fuel volume requirements and early release of the volumes. Determination and bold decisions are required to reduce carbon emissions and meet the ambitious targets set in the Paris Climate agreement," says Kaisa Hietala, Executive Vice President of Neste's Renewable Products business area.

"Neste Renewable Diesel is an ideal low-carbon fuel to meet the US renewable fuel standards, as it is fully compatible with existing fuel distribution systems. We look forward to continued participation in the US market and the finalization of the volume requirements," continues Hietala.

Neste Renewable Diesel meets the requirements of an advanced biofuel in the biomass-based diesel category and is being used by US refiners, blenders, and fuel distributors to meet their renewable fuel requirements. Additionally, the fuel is being used by US cities such as San Francisco and Oakland as well as corporations such as Google and UPS. The fuel was also used by the 2016 San Francisco Bay Area Super Bowl 50 Host Committee to power the fan village and the fan express buses.

Neste Corporation

Kaisa Lipponen
Director, Corporate Communications

Neste in brief
Neste is a pioneer in oil refining and renewable solutions. We provide our customers with premium-quality products for cleaner traffic and industrial products based on world-class research. We are the world's leading producer of renewable diesel, and our annual production capacity is more than 2 million tons. We also are the world's largest company providing renewable fuel from waste and residues. Our sustainable operations have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world's most sustainable companies, among others. Our net sales for 2015 amounted to approximately EUR 11 billion, and our shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by about 5,000 professionals. More