NESTE OYJ UNSP/ADR - NTOIY STOCK NEWS

Neste has commissioned terminal capacity at ONEOK's terminal in Houston, Texas for blending and storing Neste MY Sustainable Aviation Fuel™. This expansion provides storage capacity of up to 100,000 tons (around 33.5 million gallons) and is directly connected to the energy pipeline infrastructure in the eastern U.S. The move aims to expand SAF availability to airlines operating from airports east of the Rocky Mountains to the East Coast.

This development follows Neste's previous demonstrations of SAF supply capabilities, including to New York's LaGuardia Airport in 2021 and expanded capabilities on the West Coast in 2023. Neste's SAF reduces greenhouse gas emissions by up to 80% over its life cycle compared to conventional jet fuel and is made from sustainably sourced, 100% renewable waste and residue raw materials.

Neste has successfully delivered over 500,000 gallons (1,500 metric tons) of sustainable aviation fuel (SAF) to Los Angeles International Airport (LAX). This significant delivery, achieved in collaboration with LAXFUEL, allows commercial airlines flying from LAX to substantially cut greenhouse gas emissions from air travel. Neste MY Sustainable Aviation Fuel™ can lower emissions by up to 80% over its lifecycle compared to fossil jet fuel, and is made from 100% renewable waste materials.

Neste has agreed to acquire the used cooking oil (UCO) collection and aggregation business from Crimson Renewable Energy Holdings in the U.S., enhancing its renewable raw materials sourcing platform. The deal includes shares in SeQuential Environmental Services and Pure, along with a UCO processing plant in Salem, Oregon. This move aligns with Neste's strategy to strengthen its operations in North America, advancing its aim to meet the growing demand for renewable products. The acquisition is subject to customary closing conditions and regulatory approval.

Azores Airlines achieved a historic milestone by operating its first flight powered by sustainable aviation fuel (SAF) on October 24th, connecting Lisbon and Ponta Delgada. This flight utilized fuel containing 39% renewable material, resulting in a 35% reduction in total CO2 emissions. The initiative aligns with SATA Group's recent commitment to the European Union's Zero Emissions Aviation Alliance, which aims for decarbonization by 2050. Partners Galp and NESTE supported this operation, as Galp plans to produce 240,000 tons of SAF annually, transforming its Sines site into a Green Energy Park.

Neste Corporation has announced a major supply agreement with the Air France-KLM Group, providing over 1 million tons (approx. 1.26 billion liters) of Neste MY Sustainable Aviation Fuel™ over 8 years starting in 2023. This agreement supports the AF-KLM Group's goal to reduce CO₂ emissions per passenger/km by 30% by 2030. Neste aims to cut annual emissions by 20 million tons of CO₂e by 2030, helping the aviation sector progress towards net-zero carbon emissions by 2050.

Neste Corporation has finalized a joint venture with Marathon Petroleum, establishing Martinez Renewables to produce renewable diesel in California. This 50/50 partnership enhances Neste's presence in the U.S. market and is expected to boost renewable production capacity by over 1 million tons annually. The new facility will start operations in early 2023, with full capabilities estimated to reach 2.1 million tons per year by year-end. The initiative aligns with Neste's growth strategy in renewable fuels, solidifying its global standing.

Neste has initiated a strategic study to transition its Porvoo refinery in Finland from crude oil refining to a leading renewable and circular solutions site. This transformation aims to significantly increase renewable production, with a long-term capacity potential of 2 to 4 million tonnes per year, starting with co-processing renewable feedstock. The plan includes a complete discontinuation of crude oil refining by the mid-2030s, aligning with Neste's climate commitments. The transition will necessitate significant investments over the next decade.