Neste increases ownership stake in Neste Demeter
Neste Oyj has acquired an additional 29% of Neste Demeter B.V., raising its ownership to 80%. The company plans to acquire the remaining shares over the next few years.
Neste Oyj, a producer of renewable fuels from waste and residues, has increased its ownership in its Dutch subsidiary Neste Demeter B.V. by acquiring an additional 29% of its shares. This brings Neste's total ownership in Neste Demeter to 80%.
The company has also agreed with minority shareholders to acquire the remaining shares in Neste Demeter over the next few years. Neste originally gained a controlling stake in Neste Demeter (then IH Demeter B.V.) in 2018, purchasing 51% of its shares.
Neste Demeter plays a key role in Neste's raw material sourcing. "Neste Demeter is an important part of our raw material supply chain, and this is a step forward in our strategy of building a global waste and residue raw material platform to secure raw material availability and competitiveness," stated Carl Nyberg, Neste's Executive Vice President of Renewables Supply Chain and Sustainability.
Neste is significantly expanding its renewable diesel production capacity in Rotterdam, Netherlands, with an investment of approximately EUR 1.9 billion. The company aims to reach a global renewable product capacity of 6.8 million tons per year by the end of 2026.