- Neste Corp.
Neste completes acquisition of Crimson Renewable Energy’s UCO business
In November, Neste announced that it would acquire the used cooking oil (UCO) collection and aggregation business and related assets on the U.S. West Coast from Crimson Renewable Energy Holdings LLC.
The acquisition has been approved by regulatory authorities, and the transaction has been closed.
The acquisition includes shares in SeQuential Environmental Services LLC, and Pure LLC, as well as a UCO processing plant in Salem, Oregon.
Through the transaction, Neste acquired a leading UCO collection and recycling business on the West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington.
"The completion of this transaction is another important step for Neste in growing renewable and circular solutions, following our strategy,” said Matti Lehmus, president and CEO of Neste. “We are strengthening our presence and operations in the United States and on the U.S. West Coast, which is an important market for servicing our customers and the location for our joint venture for renewable diesel production in Martinez, California. I am happy to welcome the team to join Neste's operations in the U.S.”
The transaction strengthens Neste’s global raw-materials sourcing platform and supports Neste’s aim to serve its customers to meet the growing global need for renewable products.