Neste Oil Us, Inc.

What Neste Oil Us, Inc. does

Neste Oyj (legally), doing business as Neste and historically known as Neste Oil, is a publicly traded Finnish energy and renewable fuels company headquartered in Espoo, Finland, founded in 1948 as a local oil refiner and listed on Nasdaq Helsinki under ticker NESTE. It operates refineries on three continents and is positioned by its own materials as the world's leading producer of renewable diesel and sustainable aviation fuel (SAF). The company has structurally pivoted from conventional fossil refining toward renewable and circular solutions, with the Porvoo crude refinery being transformed for renewables and circular production, and 6.8 million tons of annual renewable fuels production capacity targeted for 2027.

Its core product portfolio is anchored by Neste MY Renewable Diesel (a 100% renewable drop-in diesel), Neste MY Sustainable Aviation Fuel (SAF), Neste Marine fuels (including Neste Marine 0.1 Co-processed), Neste RE (renewable and chemically recycled feedstock for polymers and chemicals), and traditional oil products. Production relies on the proprietary NexBTL (Next Generation Biofuel Technology) refining process and on co-processing technology that allows renewable or recycled raw materials (e.g., used cooking oil, liquefied waste plastic) to substitute a portion of crude oil in refinery operations, with sustainability attribution via an ISCC-verified mass balancing chain of custody.

Revenue is generated primarily through B2B bulk fuel and feedstock sales to enterprise customers under a transaction-fee / quote-based pricing model, with distribution via direct enterprise sales teams, Neste service stations for road transport, and B2B fuel distribution networks. Primary customer segments include the aviation industry, marine transport, road transport and logistics, polymers and chemicals, and traditional oil products customers, with named flagship accounts including DHL (logistics decarbonization), Sony (renewable plastics in consumer electronics), and Mitsubishi Corporation. The FY2024 revenue was EUR 20.6 billion.

Name

Neste Oil Us, Inc.

Legal name

Neste Oyj

Website

https://neste.com

Company type

Public

Founded year

1948

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Neste Oyj is a publicly traded Finnish energy company that produces renewable diesel, sustainable aviation fuel, marine fuels, and renewable feedstock for polymers and chemicals, serving airlines, shippers, logistics providers, and industrial customers across three continents.

Ownership category

akta.pro rank

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Renewable Diesel Sales: Sale of Neste MY Renewable Diesel to businesses and consumers for road transport, helping reduce greenhouse gas emissions by replacing fossil diesel.
2. Sustainable Aviation Fuel (SAF): Sale of Neste MY Sustainable Aviation Fuel to aviation industry for reducing greenhouse gas emissions of air travel.
3. Marine Fuels: Sale of marine fuel solutions including Neste Marine 0.1 Co-processed to shipping companies for reducing maritime emissions.
4. Oil Products: Sale of high-quality oil products for road transport, heavy machinery, agriculture, aviation, marine sectors, and petrochemical industries.
5. Neste RE (Renewable Materials): Sale of renewable feedstock solutions for polymers and chemical industry production, including bio-based plastics and chemically recycled materials.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Neste refines and converts renewable raw materials (waste, residues, used cooking oil) into drop-in renewable fuels—primarily Neste MY Renewable Diesel, Neste MY Sustainable Aviation Fuel (SAF), and Neste Marine fuels—alongside conventional oil products and Neste RE chemically recycled feedstock for plastics and chemicals. Production uses proprietary NexBTL technology at dedicated refineries on three continents, with annual renewable fuels capacity targeted at 6.8 million tons by 2027.

Product overview

Neste is a global leader in renewable fuels and circular solutions, operating a platform-plus-products architecture. The core offerings include Neste MY Renewable Diesel (100% renewable fuel for road transport), Neste MY Sustainable Aviation Fuel (for aviation decarbonization), and Neste Marine fuels (for maritime transport). Supporting products include Neste RE (chemically recycled feedstock for polymers and chemicals), co-processed solutions (hybrid refinery processing), and conventional oil products. The company transforms waste, residues, and other renewable raw materials into high-quality renewable fuels at refineries across three continents, with annual renewable fuels production capacity reaching 6.8 million tons by 2027.

Differentiator

Problem solved

Functional benefit

Brands

• Neste MY Renewable Diesel: Renewable diesel product brand helping businesses and consumers reduce greenhouse gas emissions by replacing fossil diesel.
• Neste MY Sustainable Aviation Fuel (SAF)
• Neste RE
• Neste Marine

Products and services

• Neste MY Renewable Diesel

Quantifiable outcome

• Significant reduction in greenhouse gas emissions compared to fossil fuels
• +3 more outcomes

Named customers2 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• DHLcoreStrategic or Co-development PartnerPartnership to decarbonize logistics with renewable fuels playing a crucial role in DHL's plan to achieve carbon neutrality by 2050. Neste provides renewable diesel and SAF solutions.
• SonycoreStrategic or Co-development PartnerPartnership where Sony is partly replacing virgin fossil-based plastics with renewable alternatives (Neste RE) for consumer electronics including earbuds and TVs, proving high-quality products can have lower carbon footprint.
• Mitsubishi CorporationcoreStrategic or Co-development PartnerPartner in collaboration with Sony and 11 other global companies to replace virgin fossil-based plastics with renewable alternatives using Neste RE.
• Work AheadcoreTechnology or IntegrationImplementation of worker voice technology using audiovisual surveys to enable direct and anonymous engagement with workers in supply chains on topics including living conditions, working conditions, safety, and human rights.
• Inovasi DigitalcoreTechnology or IntegrationPartner (powered by Earthqualizer) to monitor, verify, and take action on deforestation alerts within PFAD (Palm Fatty Acid Distillate) supply chains.
• Siak Pelalawan Landscape Programme (SPLP)coreStrategic or Co-development PartnerCollaborative initiative with district governments in Siak and Pelalawan to support implementation of sustainable palm oil practices. One of eight company members working on forest protection, responsible production, human rights, and smallholder livelihoods.
• ProforestcoreStrategic or Co-development PartnerTechnical facilitator coordinating between district governments, private sector members, and NGOs for the Siak Pelalawan Landscape Programme.
• DaemetercoreStrategic or Co-development PartnerTechnical facilitator coordinating between district governments, private sector members, and NGOs for the Siak Pelalawan Landscape Programme.
• Palm Oil Collaboration Group (POCG)coreStrategic or Co-development PartnerIndustry collaboration group committed to supporting No Deforestation, No Peat Expansion, No Exploitation (NDPE) implementation in palm oil supply chains.
• Mahoney EnvironmentalminorStrategic or Co-development PartnerSubsidiary of Neste that collects used cooking oil (UCO) for recycling into renewable fuels. Collected 450 gallons of UCO at Super Bowl LVII.
• Green Sports AllianceminorStrategic or Co-development PartnerPartnership with GSA for promoting sustainable practices in sports events, testing renewable fuel solutions for generators and power at sports venues.

Scale indicators8 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• World Energy: Pioneering SAF producer operating biorefineries in the US and globally. Competes directly with Neste in SAF supply to airlines and into logistics and aviation markets.
• UPM Biofuels: Produces renewable diesel and sustainable aviation fuel from wood-based residues at the Lappeenranta biorefinery in Finland. Closely matches Neste's technology and feedstock innovation profile.
• Phillips 66 (Rodeo Renewable Energy Complex): Converted its Rodeo refinery into one of the world's largest renewable diesel facilities. Directly comparable scale, technology profile, and product mix to Neste's renewable fuels business.
• Marathon Petroleum (Martinez Renewables): Operates large-scale renewable diesel capacity (Martinez Renewables) via its former Martinez refinery. Direct peer in renewable diesel with comparable feedstock strategy and offtake customers.
• Diamond Green Diesel (Valero / Darling Ingredients JV): Joint venture between Valero and Darling Ingredients, one of the largest renewable diesel producers in North America. Directly comparable to Neste as a major merchant renewable diesel producer using waste feedstocks.

Emerging players

• SkyNRG: SAF-focused specialist supplying airlines with sustainable aviation fuel. Direct overlap with Neste in the aviation segment but smaller scale and focused portfolio.

Broad incumbents

• Shell (Renewable Fuels & SAF): Major integrated energy company investing in renewable fuels, SAF, and hydrogen. Overlaps with Neste in renewable diesel, SAF supply, and feedstock sourcing, but operates across the full energy value chain.
• bp (Bioenergy / SAF): Integrated major with growing SAF and biofuels capacity and a stated ambition to scale renewable fuels globally. Competes with Neste in SAF offtake and renewable diesel, but as part of a much broader portfolio.
• TotalEnergies (La Mède biorefinery): European integrated major operating a converted biorefinery at La Mède producing renewable diesel/HVO and SAF. Comparable in European market positioning and refining-to-renewables transition.

Others

• Darling Ingredients: Global renderer and Diamond Green Diesel JV partner, supplying used cooking oil and animal fats to renewable diesel producers. Highly adjacent — both feedstock supplier to and partner of Neste's value chain.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/NesteGlobal
• Facebookfacebook.com/NesteGlobal
• LinkedInlinkedin.com/company/neste
• Instagraminstagram.com/nesteofficial

Compliance12 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Neste Oil Us, Inc.