Neste Corporation, News, 8 February 2021
The e-fuel research project related to Neste’s Veturi programme was launched in January 2021. Headed by VTT Technical Research Centre of Finland, the project brings together fifteen partners to engage in R&D cooperation with the goal of large-scale production and commercialization of e-fuels.
The two-year, over six-million-euro project will develop the production of new synthetic fuels. Without sizable development efforts, production cannot be sustainably scaled to the level needed to meet the increasing demand.
Cooperating in the e-fuel project further strengthens Neste’s diverse network of partners advancing the production of e-fuels based on renewable electricity and recycled carbon dioxide. The cooperation includes companies from the entire e-fuels value chain – from renewable electricity production to users of synthetic fuels.
There are three key technologies at the core of the project’s development work: electrolysis needed for the production of renewable hydrogen, carbon capture, and producing fuels from hydrogen and carbon dioxide. Cost effectiveness and high efficiency are essential in driving all areas to commercial maturity.
Broad-based cooperation like that of the Veturi ecosystem enables the building of world-class power-to-X business as well as the development and production of the related technologies in Finland. As production and use of renewable electricity increases, the power-to-X sector and the related business growth opportunities will quickly advance.
More information about the e-fuel project is available from the VTT press release.
Please contact Neste’s media service, tel. +358 50 458 5076 / firstname.lastname@example.org (weekdays from 8:30 a.m. to 4:00 p.m. EET).
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2020, Neste's revenue stood at EUR 11.8 billion, with 94% of the company’s comparable operating profit coming from renewable products. Read more: neste.com