MOSCOW (MRC) -- Neste, the world's leading producer of renewable diesel and sustainable aviation fuel produced from waste and residue raw materials, has agreed to acquire 100% of Walco Foods, an Irish trader of animal fats, said Hydrocarbonprocessing.
The transaction is subject to the fulfillment of customary closing conditions and regulatory approval. “This is another important step for Neste in the execution of our growth strategy. With this acquisition we continue to build a global waste and residue raw material platform and add trading capabilities in Ireland,” says Matti Lehmus, President and CEO of Neste.
Together with the previously announced acquisitions of IH Demeter, Bunge Loders Croklaan and Count Terminal in the Netherlands, and Mahoney Environmental and Agri Trading in the United States, Walco Foods will enhance Neste’s supply of global waste and residue raw materials.
Walco Foods was established in 1996 as a family-run business. The in-depth knowledge and market understanding developed over the years has helped Walco Foods become a leading animal fat and by-products trading company in Ireland.
Neste refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. This is possible thanks to its proprietary NEXBTL technology – a platform that allows the company to turn a wide variety of renewable waste and residues and oils into premium fuels and other products.
As per MRC, Technip Energies has been awarded a significant contract by Neste for the expansion of their renewable products production capacity in Rotterdam, the Netherlands, as part of the existing Partnership Agreement between Technip Energies and Neste. The contract covers Engineering, Procurement services and Construction management (EPsCm) for the expansion of Neste’s existing renewables refinery in Rotterdam which will increase Neste’s overall renewable product capacity by 1.3 MMtpy.