Neste increases ownership stake in Neste Demeter, plans to acquire remaining shares

Renewable diesel and sustainable aviation fuel (SAF) producer Neste Corp. announced Nov. 8 that it has acquired an additional 29 percent of the shares of Neste Demeter B.V., the Netherlands-based trader of animal fats and proteins.

The move increases Neste’s ownership to 80 percent of the company.

In September 2018, Neste announced the acquisition of 51 percent of the shares of IH Demeter B.V., making it the controlling shareholder.

Neste has also agreed to acquire the remaining shares of Neste Demeter B.V. over the next few years, as agreed with the minority shareholders.

“The partnership between the minority owners of the company and Neste has been successful,” said Carl Nyberg, Neste’s executive vice president of renewables supply chain and sustainability.

“I am pleased that we have now agreed to take full ownership of Neste Demeter while continuing the cooperation with the minority owners,” Nyberg continued. “Neste Demeter is an important part of our raw-material supply, 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.”

Neste’s current capacity for renewable products in Rotterdam is the largest in Europe.

The company made the final investment decision to invest in new renewable products production capacity in Rotterdam in June 2022, with targeted start up during the first half of 2026.

The Rotterdam refinery expansion investment of approximately 1.9 billion euros (USD$2.03 billion) will expand Neste’s overall renewable product capacity to a targeted 6.8 million tons globally by the end 2026.