Finnish renewable fuels producer Neste is set to acquire Crimson Renewable Energy’s used cooking oil (UCO) collection and aggregation business in the USA.
The acquisition would strengthen Neste’s renewable raw materials sourcing platform, the company said on 17 November, with the addition of UCO collection, logistics and storage services in California, Oregon and Washington.
Subject to customary closing conditions and regulatory approval, the transaction included shares in SeQuential Environmental Services and Pure, as well as a UCO processing plant in Salem, Oregon, Neste said.
“This acquisition further strengthens Neste’s presence and operations in the USA. We continue to execute our renewables growth strategy by expanding our renewable raw materials sourcing platform to the US West Coast, which is also a location for our upcoming renewable diesel production joint operation in Martinez, California,” Neste president and CEO Matti Lehmus said.
“Together with [the recently acquired] Mahoney Environmental, this business will form a nationwide UCO collection and aggregation network.”
Neste currently has a 3.3M tonnes/year renewable products global production capacity.
