Neste completes acquisition of used cooking oil business in the US

Neste Oyj has completed the acquisition of Crimson Renewable Energy Holdings, LLC's used cooking oil (UCO) collection and aggregation business and related assets on the US West Coast. The transaction, which includes shares in SeQuential Environmental Services, LLC and Pure, LLC, as well as a UCO processing plant in Salem, Oregon, has received regulatory approval.

The acquisition strengthens Neste's position in UCO collection and recycling on the US West Coast, covering collection, logistics, and storage across California, Oregon, and Washington. This move supports Neste's strategy to grow its renewable and circular solutions and enhances its global raw material sourcing platform.

"The completion of this transaction is another important step for Neste in growing renewable and circular solutions, following our strategy. We are strengthening our presence and operations in the United States and on the US West Coast, which is an important market for servicing our customers and the location for our joint venture for renewable diesel production," said Matti Lehmus, President and CEO of Neste.

The company aims to meet the growing global demand for renewable products. The acquisition aligns with Neste's objectives to expand its sourcing of renewable raw materials and advance the circular economy.