Innovation and technology have always been in Neste’s DNA. Our approach is to convert low-quality raw materials into sustainable, high-quality products and solutions.
Approximately 25% of our people are working in Innovation and Technology. The majority of our research and development expenditure has been directed to exploring new raw material pools and technology platforms to enable their use. Our two-fold aim is to develop our existing businesses, and build new growth platforms in renewable and circular solutions. Our Innovation function is helping the current businesses to widen the supply of renewable waste and residues and develop business around the chemical recycling of waste plastics. The development of new businesses takes place on three new platforms formed around scalable feedstock pools which are not yet utilized today:
- lignocellulosic (for example agricultural and forest harvesting residues) fuels, chemicals, and materials;
- scalable feedstocks for renewable aviation fuels including algae and solid municipal waste;
- renewable hydrogen and Power-to-X, utilizing renewable electricity to convert CO2 to fuels and chemicals.
Extensive collaboration network
Innovation does not happen in isolation. We already have an extensive network of leading universities, R&D centers, and technical institutes and we continue to expand and intensify our collaboration with them. We are also continuously exploring opportunities to join forces with technology developers and different value chain partners including start-ups and industrial players to accelerate new innovations in multiple areas.
Read more about Innovation at Neste.