Neste Increases Ownership in Neste Demeter
Neste Oyj has acquired 29% of the shares in Neste Demeter B.V., increasing its ownership to 80%. The company has also agreed to acquire the remaining shares over the next few years.
Neste Oyj, a producer of renewable fuels from waste and residues, has increased its stake in Neste Demeter B.V. by acquiring 29% of the company's shares. This transaction raises Neste's total ownership to 80%. The company has reached an agreement with the minority shareholders to acquire the remaining shares over the coming years.
Neste states that Neste Demeter is an important part of its raw material supply chain. The acquisition is seen as a step forward in Neste's strategy to build a global platform for waste and residue raw materials, aiming to secure availability and competitiveness.
Neste initially acquired a 51% share in IH Demeter B.V. (now Neste Demeter B.V.) in September 2018. The Dutch subsidiary focuses on sourcing animal fats and waste for the production of renewable fuels.
Neste's current renewable products production capacity in Rotterdam is the largest in Europe. In June 2022, the company made a final investment decision to expand its Rotterdam facility, with operations targeted to begin in the first half of 2026. This expansion is expected to bring Neste's global renewable product capacity to 6.8 million tons per year by the end of 2026.