Neste and VTT strengthen their partnership through research investments in Finland

Neste and VTT have agreed on strategic cooperation which fosters the joint use and development of research infrastructures in Finland. The cooperation aims at strengthening Finnish expertise in bio and circular economy as well as developing cleaner fuel solutions.

The strategic cooperation of Neste and VTT is based on two separate investment decisions for Finnish research infrastructure. Neste is currently building a vehicle testing facility in Kilpilahti, Porvoo, Finland and VTT has decided to invest in a research infrastructure for catalytic processes at its Bioruukki pilot centre in Espoo, Finland. The agreements signed today will allow Neste and VTT to use these research infrastructures in their future projects.

“Neste and VTT have long been partners, and the agreements signed today enable a more extensive research collaboration. We are very happy to be able to promote the outstanding Finnish research expertise together with VTT. Our target is to become a global leader in renewables and circular solutions. This partnership and new innovations play a major role towards achieving that target,” says Peter Vanacker, President and CEO of Neste.

The research facility built in Porvoo makes it possible to study the energy consumption of vehicles and to develop new solutions for emission reduction. With the partnership agreement, VTT can use Neste’s vehicle testing facility in its own research projects. In addition, Neste will utilize the research environment of catalytic processes funded by VTT in Espoo. This research infrastructure enables partners to develop cleaner solutions for fuels and chemicals.

Bio-based fuels and chemical solutions, as well as the development of the related chemical process technology expertise are central to VTT’s strategy. Neste is an excellent partner for VTT.

“VTT’s goal is to find solutions to global challenges and drive sustainable growth. This partnership is very important to us, and an excellent example of how we are looking for concrete solutions to climate change and resource sufficiency with our partners. The cooperation between Neste and VTT brings up new opportunities to make the best possible use of the research infrastructures”, says Antti Vasara, VTT’s President and CEO.

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world’s largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2018, Neste’s revenue stood at EUR 14.9 billion. In 2019, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com