Neste Oil Corporation
Stock Exchange Release
7 November 2007 at 12 noon EET
Neste Oil’s NExBTL Renewable Diesel has been declared the winner in the product category of the Finnish section of the European Business Awards for the Environment 2008. Known as Cleantech Finland, the Finnish national competition is coordinated by Sitra, the Finnish Innovation Fund, which appointed a jury of experts to recognize six companies in three categories. The awards were made by the Finnish Minister of the Environment, Kimmo Tiilikainen, on November 7 at the closing seminar of Sitra’s Environmental Programme.
The European Business Awards for the Environment are intended to recognize companies working towards a more sustainable future. The recipients are all pioneers in environmentally responsible operations, products, and processes. In addition to a proactive approach to the environment, innovation and market success are also important selection criteria.
The winners of the Finnish competition take part in a European-wide competition organized every other year by the European Commission’s Environment Directorate-General. The winners of the next European competition will be announced in Brussels in June 2008 during Europe’s Green Week.
NExBTL Renewable Diesel
Neste Oil’s NExBTL Renewable Diesel is the world’s first commercial second-generation biodiesel. Produced using proprietary technology developed by Neste Oil, NExBTL is the cleanest biodiesel available, and can reduce greenhouse gas emissions by between 40% and 60% compared to fossil diesel fuel and improve air quality by cutting other harmful tailpipe emissions significantly. NExBTL is completely compatible with today’s diesel engines, and is the outcome of over 10 years of development work. Neste Oil’s NExBTL production plant at Porvoo is the first refinery-scale unit producing a second-generation biodiesel anywhere.
Virtually any vegetable oil or animal fat can be used to produce NExBTL, making it the world’s most flexible biodiesel technology. Palm oil, rapeseed oil, and animal fat are currently used as feedstocks. Palm oil is the most widely available of these raw materials, and also the most competitive vegetable oil feedstock in terms of greenhouse gas emissions as measured across its entire lifecycle. Neste Oil’s policy is to use only sustainably produced raw materials, and the Company is actively promoting the introduction of an international certification system for palm oil production.
Neste Oil’s competitiveness is based on a long-term commitment to developing and producing environmentally benign fuels – and ensuring that consumers in Finland and elsewhere have access to cleaner, higher-performance fuels, both today and tomorrow.
Neste Oil Corporation
Senior Vice President, Communications
Senior Vice President, Corporate Communications Osmo Kammonen, tel. +358 (0)50 458 4885, email@example.com
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