Neste
Neste Oyj is a Finnish public energy company and the world's leading producer of renewable diesel and sustainable aviation fuel, serving airlines, fleet operators, shipping companies, and plastics manufacturers via refineries in Finland, Netherlands, Singapore, and the US.
- Company typePublic
- Founded1965
- HeadquartersEspoo, Finland
- Headcount5,001–10,000
- GTM typeB2B
- OfferingHardware or Manufacturing
What Neste does
Neste Oyj is a publicly traded Finnish energy company (Nasdaq Helsinki: NESTE) headquartered in Espoo that has transformed from a legacy oil refiner into the world's leading producer of renewable diesel and sustainable aviation fuel (SAF). The company operates four major refinery/production hubs in Porvoo (Finland), Rotterdam (Netherlands), Singapore, and Martinez, California (via a 50/50 joint venture with Marathon Petroleum), supported by wholly owned feedstock subsidiaries — Mahoney Environmental, Agri Trading Corporation, and Walco Foods — that secure used cooking oil, animal fats, and other waste/residue inputs.
Its core technology platform is hydroprocessed esters and fatty acids (HEFA), which converts waste and residue feedstocks into drop-in renewable diesel and SAF compatible with existing engines and fuel infrastructure. Complementary proprietary capabilities include chemical recycling of liquefied waste plastic (Porvoo's 150,000-tonne-per-year facility, commissioned March 2026), the world's largest high-temperature solid oxide electrolyzer (MultiPLHY at Rotterdam) for renewable hydrogen, and EU-funded SCOOP co-processing technology. Renewable products deliver up to 80% lifecycle GHG reductions versus fossil equivalents, and the NESTE RE platform supplies renewable plastics feedstock to consumer electronics manufacturers including Sony.
Revenue is generated primarily through volume-based B2B enterprise sales of fuels and chemicals (renewable diesel, SAF, marine fuels, oil products, chemical recycling feedstock, and renewable plastics), distributed via direct enterprise sales teams, channel partnerships (notably World Fuel Services covering 100+ European airports), and the Martinez JV. Pricing is quote-based and undisclosed, typically negotiated through long-term offtake agreements. Reported FY2025 revenue was €19.0 billion with comparable EBITDA of €1,683 million (+34% YoY), and Q1 2026 comparable EBITDA of €861 million beat consensus by 14%. The company is investing €1.0–1.2 billion in 2026 capex to scale Rotterdam to 2.7 million tons and total renewables capacity to 6.8 million tons annually by 2027.
Neste firmographics
Firmographics- Name
- Neste
- Legal name
- Neste Oyj
- Website
- https://neste.com
- Company type
- Public
- Founded year
- 1965
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Neste Oyj is a Finnish public energy company and the world's leading producer of renewable diesel and sustainable aviation fuel, serving airlines, fleet operators, shipping companies, and plastics manufacturers via refineries in Finland, Netherlands, Singapore, and the US.
- Ownership category
- akta.pro rank
Neste industry classification
Industry- Product category
- Renewable Fuels
- NAICS
- Petrochemical Manufacturing (32511), Petrochemical Manufacturing (325110), Other Basic Organic Chemical Manufacturing (32519), Resin and Synthetic Rubber Manufacturing (32521), Plastics and Rubber Products Manufacturing (326)
- SIC
- Aircraft & Parts (3720), Aircraft Engines & Engine Parts (3724), Aircraft (3721), Gaskets, Packg & Sealg Devices & Rubber & Plastics Hose (3050), Fabricated Rubber Products, Nec (3060)
- akta.pro primary industry
- Renewable Diesel (HVO/HEFA) Production (EUAAAHAD)
- akta.pro secondary industries
- Sustainable Aviation Fuel (SAF) Production (HEFA, FT, ATJ) (EUAAAHAE), Biofuel Distribution & Fuel Marketing (Wholesale/Retail) (EUAAAHAI), Biofuel Upgrading, Hydrotreating & Refining (Co-processing, Isomerization) (EUAAAHAG), Biofuels & Renewable Fuels Switching (Biomethane/RNG, Bio-oils, Sustainable Biomass) (EUABAJAD)
Keywords
Where Neste is headquartered
LocationHeadquarters
- HQ city
- Espoo
- HQ country
- Finland
- HQ region
- Europe
Offices7 records
Markets served
Neste business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Operations, Infrastructure, Technology or R&D, Personnel, Marketing or Sales
Revenue model
- Renewable Diesel Sales: Production and sale of NESTE MY Renewable Diesel to businesses and consumers for road transport, providing greenhouse gas emission reductions compared to fossil diesel. Revenue generated from volume-based sales of renewable fuel products.
- Sustainable Aviation Fuel (SAF) Sales: Production and sale of NESTE MY Sustainable Aviation Fuel to airline customers globally. Sold directly to airlines and through distribution partners like World Fuel Services. Growing segment driven by regulatory mandates (EU ReFuelEU, UK SAF mandate) and corporate sustainability commitments.
- Marine Fuels: Solutions for maritime transport sector to help shipping companies reduce greenhouse gas emissions, including biofuels and renewable fuel options.
- Oil Products: High-quality fossil-based oil products for road transport, heavy machinery, agriculture, aviation, marine sectors, and petrochemical industries. Legacy business undergoing strategic transition to renewables.
- Chemical Recycling Feedstock: Sale of recycled petrochemical feedstock from waste plastic processing to plastics and chemicals industry customers. Strategic growth area supporting circular economy.
- Renewable Plastics (NESTE RE): Production of renewable versions of various plastic materials using mass balance approach, enabling consumer electronics manufacturers like Sony to replace virgin fossil-based plastics with biomass-based alternatives.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Neste product offering
Product offeringCore offering
Neste is the world's leading producer of renewable diesel and sustainable aviation fuel (SAF) manufactured from waste and residue feedstocks such as used cooking oil, animal fats, and other biomass using proprietary HEFA (Hydroprocessed Esters and Fatty Acids) technology. The company also produces marine biofuels, conventional oil products, renewable plastics (NESTE RE), eco-friendly lubricants (NESTE ReNew), and high-quality petrochemical feedstock from liquefied waste plastic at its Porvoo chemical recycling facility.
Product overview
Neste operates as a multi-product energy company transitioning from conventional oil refining to renewable and circular solutions. The company offers a portfolio centered on renewable fuels (renewable diesel, sustainable aviation fuel, marine fuels) alongside traditional oil products. Key offerings include Neste MY Renewable Diesel™ for road transport, Neste MY Sustainable Aviation Fuel™ for aviation decarbonization, marine fuel solutions, and the Neste RE™ renewable plastics line. The company also produces liquefied waste plastic feedstock from its world-scale Porvoo facility, enabling chemical recycling of challenging plastic waste streams. Products are distributed through partnerships like World Fuel Services at 100+ European airports.
Differentiator
Problem solved
Functional benefit
Brands
- Neste MY Renewable Diesel™: Renewable diesel helping businesses and consumers reduce greenhouse gas emissions by replacing fossil diesel.
- Neste MY Sustainable Aviation Fuel™
- Neste MY Renewable Jet™
- Neste ReNew
- Neste Impact
- ALVAR
Products and services
- Neste MY Renewable Diesel
Quantifiable outcome
- Up to 80% GHG reduction compared to fossil fuels
- +5 more outcomes
Companies that use Neste
Customer profileNamed customers7 records
Segments4 records
Ideal customer profiles4 records
Neste technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Neste partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, minor and moderate.
- HCLTechcoreStrategic AI partnership for company-wide performance improvement program. HCLTech driving IT service consolidation, efficiency transformation, and agile technology capability building to support Neste's renewables business and 6.8 million tons annual capacity target by 2027.
- VTT Technical Research Centre of Finland (Quantum Leap)minorParticipation in VTT's Quantum Leap project focused on practical implementation of quantum computing, including quantum software, error correction, and energy-efficient components. Project includes Finnish universities and quantum companies IQM, SemiQon, and Vexlum.
- IBM ConsultingcoreMulti-year ALVAR ERP transformation program consolidating siloed legacy systems into unified SAP platform. Integrated 27 systems across 13 successful go-lives with over 3,800 employees and contractors adopting standardized global processes.
- Alterra and Technip EnergiesmoderatePartnership for licensing Neste's waste plastic liquefaction technology to advance chemical recycling of challenging plastic waste streams globally. Technology enables processing of hard-to-recycle plastics into high-quality petrochemical feedstock.
- CircularisemoderateCombined €11 million Series A investment (with Brightlands Venture Partners, 4 Impact VC, and Asahi Kasei) into blockchain-based digital product passport startup. Circularise technology enables suppliers to share material composition and environmental footprint data while maintaining privacy, serving polymers, chemicals, plastics, and metals industries.
- World Fuel ServicescoreFive-year agreement to expand SAF availability at over 100 airports across UK and European network. Leverages World Fuel's existing distribution infrastructure and Neste's Rotterdam refinery SAF production capability (500,000 tons annually). Supports regulatory compliance with EU ReFuelEU Aviation Regulation and UK SAF mandate.
- Sony Corporation and Mitsubishi CorporationcoreEstablished world's first global supply chain for renewable plastics involving 14 companies across five countries/regions. Enables production of multiple types of renewable plastics using mass balance approach for Sony's high-performance audio-visual products. Part of 'Creating NEW from reNEWable materials' project targeting zero virgin fossil-based plastics.
- DHLcoreSAF supply partnership for decarbonizing logistics operations. 9.5 million litres of SAF for DHL Express operations in Singapore. DHL targeting net-zero emissions by 2050 and 30% SAF usage by 2030.
- Singapore Airlines GroupcoreSAF procurement agreement including 1,000 tonnes from Singapore refinery plus book-and-claim arrangement via World Energy. Airline targeting 5% SAF incorporation into total fuel consumption by 2030 and net-zero emissions by 2050.
- Cathay PacificcoreSAF partner in Corporate SAF Programme with approximately 17,400 tonnes commitment in 2025, representing 180% increase from 2024. Expected to reduce lifecycle carbon emissions by around 54,600 tonnes CO2 equivalent.
- Marathon Petroleumcore50/50 joint venture Martinez Renewables in California for renewable fuels production. Facility reached full capacity of 730 million gallons per year by end of 2024. Strategic positioning in US West Coast renewable fuels market.
- Mahoney EnvironmentalcoreAcquired in 2020 to strengthen supply chain for sustainable aviation fuel and renewable diesel production. Illinois-based provider of used cooking oil collection, recycling, and grease trap maintenance services, serving restaurants across the United States.
Scale indicators13 records
Recent moves9 records
Expansion highlights6 records
Neste competitors and assessment
Company assessmentDirect peers
- Marathon Petroleum Corporation: Marathon is Neste's 50/50 joint venture partner in Martinez Renewables (730 million gallons/year renewable diesel capacity in California) and is one of the largest US renewable diesel producers through that JV and the former Dakota Prairie refinery conversion. Directly comparable as a major refiner pivoting into renewable diesel.
- Diamond Green Diesel (joint venture of Darling Ingredients and Valero): Diamond Green Diesel is the largest renewable diesel producer in the US, operating multiple facilities (Norco, Port Arthur, St. Charles) with multi-billion-gallon capacity. Directly comparable to Neste as a major renewable diesel producer using waste feedstocks (used cooking oil, animal fats), with Darling Ingredients providing vertical feedstock integration similar to Neste's Mahoney/Agri Trading/Walco platform.
- UPM Biofuels: UPM Biofuels operates one of the world's first wood-based renewable diesel facilities in Lappeenranta, Finland, using forest residue feedstocks. Directly comparable as a Finnish-headquartered renewable fuel producer serving similar European markets and customers, and a key domestic competitor in the Nordic region.
- SkyNRG: SkyNRG is a SAF specialist supplying airlines with sustainable aviation fuel, with technology partnerships and project development focused exclusively on aviation decarbonization. Directly comparable to Neste in the SAF segment, though smaller in scale and focused purely on aviation rather than multi-product renewables.
- World Energy: World Energy is a leading SAF producer and distributor in North America, supplying airlines via book-and-claim arrangements and physical delivery (used by Singapore Airlines per Neste's partnerships). Directly comparable as a SAF-focused peer, particularly in the North American aviation fuel market.
Broad incumbents
- TotalEnergies: TotalEnergies is a broad European integrated energy major with growing renewable fuels production (biofuels at La Mède refinery, SAF investments) plus conventional oil refining. Comparable to Neste as a broad incumbent pivoting into renewable fuels, though Neste is far more focused on renewables as a proportion of total business.
- Shell plc: Shell is a global integrated energy major with renewable fuels capacity (biofuels at Rotterdam Pernis, SAF offtake agreements with multiple producers) and broad downstream/marketing operations. Comparable to Neste as an established oil major scaling into renewable diesel and SAF, though renewables are a much smaller part of Shell's portfolio.
- BP plc: BP is a global integrated energy major investing in biofuels, SAF, and renewable hydrogen as part of its energy transition strategy. Comparable to Neste as a broad incumbent pursuing renewable fuels alongside legacy oil and gas, with overlapping product portfolio in SAF and renewable diesel supply to fleet customers.
Emerging players
- Aemetis, Inc. Aemetis is a US-based renewable fuels company developing a renewable diesel and SAF plant in Riverbank, California, plus renewable jet and biodiesel operations. Comparable to Neste as an emerging renewable diesel/SAF producer, though at significantly smaller scale and focused exclusively on the US market.
Others
- Darling Ingredients Inc. Darling Ingredients is the world's largest renderer of animal fats and a leading used cooking oil collector, which it channels into its Diamond Green Diesel joint venture with Valero. Comparable to Neste's feedstock acquisition strategy (Mahoney, Agri Trading, Walco) and as a critical supplier/competitor in the waste-based renewable diesel feedstock market.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Neste social profiles
Digital presenceNeste compliance and trust
Trust signalCompliance11 records
Neste financial estimates
Financial estimateRevenue estimate
Valuation estimate
Neste leadership team
Management profileNumber of profiles
Profiles12 records
Neste subsidiaries and ownership
Company hierarchySubsidiaries4 records
Neste funding detail
Funding detailFunding overview
Funding rounds7 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Neste M&A and investment
M&A and investmentM&A4 records
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Neste
What does Neste do?
Neste is the world's leading producer of renewable diesel and sustainable aviation fuel (SAF) manufactured from waste and residue feedstocks such as used cooking oil, animal fats, and other biomass using proprietary HEFA (Hydroprocessed Esters and Fatty Acids) technology. The company also produces marine biofuels, conventional oil products, renewable plastics (NESTE RE), eco-friendly lubricants (NESTE ReNew), and high-quality petrochemical feedstock from liquefied waste plastic at its Porvoo chemical recycling facility.
Is Neste a public or private company?
Neste is a public company. It is classified as public and is currently operating.
When was Neste founded?
Neste was founded in 1965. It employs 5,001 to 10,000 people.
Where is Neste based?
Neste is headquartered in Espoo, Finland, in the Europe region.
How does Neste make money?
Six revenue lines are on record. Renewable Diesel Sales are the primary driver. The others are sustainable Aviation Fuel (SAF) Sales, marine Fuels, oil Products, chemical Recycling Feedstock and renewable Plastics (NESTE RE).
Who are Neste's main competitors?
Direct peers on record are Marathon Petroleum Corporation, Diamond Green Diesel (joint venture of Darling Ingredients and Valero), UPM Biofuels, SkyNRG and World Energy. Broad incumbents are TotalEnergies, Shell plc and BP plc. Aemetis, Inc. is listed as an emerging player. Darling Ingredients Inc. is listed as an others.
Does Neste have an API?
No public API is recorded for Neste.
What industry is Neste in?
Neste's product category is Renewable Fuels. Its primary akta.pro industry code is EUAAAHAD, Renewable Diesel (HVO/HEFA) Production, with a secondary code of EUAAAHAE, Sustainable Aviation Fuel (SAF) Production (HEFA, FT, ATJ). Its NAICS code is 32511 and its SIC code is 3720.