Renewable diesel producer Neste has agreed to acquire 100% of Mahoney Environmental, a collector and recycler of used cooking oil in the USA, and its affiliated entities, Biodiesel Magazine reported on 19 March.
Speaking about the acquisition, Peter Vanacker, president and CEO of Neste, said: “This is another step for Neste in the execution of our growth strategy.
“With this acquisition, we will gain access to a substantial volume of used cooking oil as well as a platform to grow our raw material supply chain in North America.”
Used cooking oil is one of more than 10 types of feedstock that Neste can use to produce renewable diesel, aviation fuel and raw materials for renewable polymers.
Mahoney collects used cooking oil from restaurants, hotels, sports stadiums and airports. The company pre-treats the leftover oil, which can be processed into renewable products.
Neste said the transaction, which was subject to customary closing conditions and regulatory approval, would support its aim to build a global waste and residue raw material platform.
Neste currently operates renewable diesel refineries in Porvoo, Finland; Rotterdam, the Netherlands; and Singapore.