Neste Ⓒ
Neste Ⓒ

Finnish renewable fuels producer Neste has announced it is set to acquire Irish animal fats trader Walco Foods.

The acquisition, which is subject to customary closing conditions and regulatory approval, would help strengthen Neste’s raw material sourcing, the company said in a 26 July statement.

“With this acquisition we continue to build a global waste and residue raw material platform and add trading capabilities in Ireland,” Neste president and CEO Matti Lehmus said.

Established in 1996 as a family-run business, Walco Foods is a leading animal fat and by-products trading company in Ireland.

The investment followed earlier acquisitions by Neste, which included animal fats and proteins trader IH Demeter, Bunge Loders Croklaan’s refinery in Rotterdam and Count Terminal in the Netherlands, used cooking oil (UCO) collection/recycling company Mahoney Environmental and independent renewable waste and residue fat and oil trader Agri Trading in the USA.

Neste refines waste, residues and raw materials into renewable fuels and sustainable feedstock for plastics and other materials using its proprietary NEXBTL technology.