Neste receives EU Innovation Fund support for new co-processing technology
The European Commission has awarded funding to Neste's SCOOP project for developing new technology at its Porvoo refinery. The project aims to utilize tall oil.
Neste Oyj has received funding from the European Commission's Innovation Fund to develop a new co-processing technology. The SCOOP project (Sustainable Co-Processing of Challenging Raw materials) aims to enable the processing of tall oil-based raw material at Neste's Porvoo refinery in Finland.
The project focuses on developing technology capable of processing diverse renewable raw materials, such as crude tall oil, into high-quality renewable fuels and feedstock for the polymers and chemicals industry. Crude tall oil is a residue from pulp mills and is eligible for use in advanced biofuels production under the EU Renewable Energy Directive.
This is one of 61 technology projects selected for funding by the European Commission from a total of 359 applications. The SCOOP project is also one of five Finnish projects chosen to receive support. The Innovation Fund's grants are sourced from the EU Emissions Trading System (EU ETS) revenues and are intended to accelerate the deployment of clean technologies across Europe.
The integration of the new technology into the Porvoo refinery's processes will still require an investment decision, which has not yet been made. The project's development will now proceed to the grant agreement preparation phase with the European Climate, Infrastructure and Environment Executive Agency (CINEA).