Neste transformed itself from a traditional Finnish oil refiner into the world’s leading producer of renewable fuels. The company started making renewable diesel from waste fats and residues in 2007 and hasn’t looked back. Today, its NEXBTL technology converts used cooking oil, animal fat waste, and other residues into drop-in renewable diesel and sustainable aviation fuel that work in existing engines without any modifications.
The production capacity for renewable products reached 3.3 million tons per year, with major refineries in Porvoo (Finland), Rotterdam (Netherlands), and Singapore. A fourth renewable products facility in Rotterdam came online in 2024, adding another 1.3 million tons of annual capacity. Neste’s sustainable aviation fuel (SAF) is already used by dozens of airlines, and the company aims to produce 1.5 million tons of SAF annually by 2026.
Neste also supplies renewable feedstock for the chemicals and plastics industries through its Neste RE brand, helping consumer goods companies reduce the fossil content in their products. The company generates roughly $20 billion in annual revenue and employs about 6,000 people. Neste trades on the Helsinki Stock Exchange and has consistently been named one of the most sustainable companies in the world. What makes Neste’s position strong is that renewable diesel and SAF don’t require new infrastructure — they’re compatible with existing distribution networks, fuel stations, and engines, making adoption straightforward for airlines, trucking fleets, and city bus systems.
