Neste to receive EU Innovation Fund support for developing new coprocessing technology

Photo: Neste Corp.

The European Commission announced Nov. 3 funding for 61 cutting-edge technology projects and Neste’s Sustainable Coprocessing of Challenging Raw Materials (SCOOP) project was among the five Finnish projects selected for funding from a total of 359 applications. 

Neste’s SCOOP project aims to develop an entirely new coprocessing technology for tall oil-based raw material to be used at its Porvoo oil refinery in Finland.  

Crude tall oil is a residue generated at pulp mills when pulp is produced from pine wood, and it is included in the Annex IX A list of the EU Renewable Energy Directive, therefore eligible to be used in the production of advanced biofuels.  

In the SCOOP project, Neste develops a technology that has far-reaching potential to enable the processing of a diverse range of renewable raw materials into high-quality renewable fuels and feedstock for the polymers and chemicals industry. 

Incorporating the new coprocessing technology into the Porvoo refinery processes will require an investment decision, which has not yet been made. 

EU Innovation Fund grants are taken from the revenues of the EU Emissions Trading System.  

These grants are designed to strengthen Europe’s technological leadership and speed up the deployment of innovative clean technologies across Europe.  

The developers of the 61 projects now selected for EU funding have been invited to start the grant-agreement preparation phase with the European Climate, Infrastructure and Environment Executive Agency (CINEA).  

During this phase, the commission and the selected project promoters will finalize the funding contract, confirming the budget, timetable, technical deliverables and legal responsibilities.