Leading renewable diesel producer Neste is set to buy US independent renewable waste and residue fat and oil trader Agri Trading, Neste announced on 7 September.
“This agreement supports our renewables growth strategy and further strengthens our global renewable raw material sourcing as well as our footprint in the United States,” Neste president and CEO Peter Vanacker said.
Neste refines waste, residues and raw materials into renewable fuels and sustainable feedstock for plastics and other materials. The company said its proprietary NEXBTL technology allowed it to turn a wide variety of renewable waste and residues and oils into premium fuels and other products.
Minnesota-based Agri Trading trades in animal fat waste, UCO, technical corn oil and other vegetable oils throughout the lower 48 US states, Canada, Mexico and Europe. The company manages all aspects of transportation, logistics, transloading and export services, providing on-time pick-up and delivery.
The transaction was subject to the completion of customary closing conditions and regulatory approval, Neste said.