Neste Oil and St1 to collaborate as part of VTT's TransEco
development program
(Thomson Reuters ONE) - Neste Oil Corporation Press Release 4 November, 2009 at 1.00pm EETFocusing on better biofuels for carsNeste Oil and St1 to collaborate as part of VTT's TransEcodevelopment programNeste Oil and St1 have begun working together on a fuel project aspart of the TransEco development program coordinated by VTT TechnicalResearch Centre of Finland. The project will focus on developingcost-efficient solutions tailored to Finnish conditions that willenable the 20% biocomponent target set for car fuel in 2020 as partof national climate goals to be achieved. The majority of the fundingfor the fuel project will come from the Ministry of Employment andthe Economy, with the remainder accounted for by VTT, Neste Oil, andSt1.Finland has been a pioneer in making use of bioenergy and developinglow-emission traffic fuels, and the Ministry of Employment and theEconomy is now giving further support to the development of newbiofuels through the recently launched TransEco program.The joint project between VTT, Neste Oil, and St1 will concentrate oncar fuels, as a number of other projects are already working onbiofuel research related to trucks and other heavy vehicles. St1 willconcentrate on optimizing high-blend bioethanol designed to replacefossil gasoline for Finnish conditions and minimizing theenvironmental impact of its use; while Neste Oil will focus ondeveloping other biocomponents suitable for blending withconventional gasoline. The participation of both companies isexpected to generate significant added value, as sharing findings hasbeen highlighted as a key priority for all those involved."Neste Oil has already launched Neste Green diesel fuel in Finland,which contains a minimum of 10% NExBTL renewable diesel," says SimoHonkanen, Senior Vice President, Sustainability and HSSE. "NesteOil's NExBTL renewable diesel can be blended with conventional fuelvery flexibly and even used as such. Whatever the proportion used, nomodifications are needed either to vehicles or fuel distributionsystems. When our current round of capital projects are completed in2011, Neste Oil will have close to 2 million t/a of renewable dieselcapacity on stream. What is important now is to find new alternativesin the gasoline area, to ensure that Finland can retain its positionas a pioneer in biofuel usage and achieve the tough targets that havebeen set - and even exceed them. We have an extensive R&D program inplace aimed at developing new types of raw materials for biofuel useand new types of biofuels. As part of this, we have built ademonstration facility in Varkaus with Stora Enso to process andrefine forest-derived biomass into traffic fuel.""The oil industry has proposed increasing the biocomponent content oftraffic fuels in Finland on a phased basis to 10% by 2015," says JariSuominen, Director, Renewable Energy of St1. "This would enable us toreach the EU target for 2020 significantly earlier than wouldotherwise be the case, and would allow us to target 20% in the sametime frame. St1 is already pressing ahead in this direction with itslaunch of Refuel RE85, a high-blend bioethanol. We have been buildinga network of ethanol plants across Finland since 2007, and our goalis to produce around 300,000 m3/a of ethanol for traffic fuel usefrom waste and sidestreams by 2020. We believe that Finland needs arange of alternative biofuel solutions as we go forward. The abilityof vehicles to use high-blend biofuels represents a major challengein this respect, which is why it will be essential to increase thenumber of new vehicles on the road if we want to boost demand forbiofuels and make these fuels more widely available. The TransEcofuel project has the potential to make a valuable contribution here,as it will offer an excellent opportunity for the authorities,researchers, and others in the field to work closely together toachieve common goals."Cutting traffic-related energy usage and emissionsCurrent targets call for a significant reduction in the amount ofenergy used by vehicles and the volume of greenhouse gases they emitinto the atmosphere, together with an increase in the use ofrenewables, by 2020. VTT's five-year TransEco research program hasbeen designed to help reduce overall energy usage on the roads andincrease the use of renewable energy in this area, and will focusboth on developing new technology and commercializing the results ofR&D work.Renewable energy in this respect covers both biofuels and greenenergy. VTT will investigate the use of electric and hybrid vehiclesin a range of operating environments and road conditions in otherTransEco projects; while Metropolia University of Applied Scienceswill research new types of electrical power trains for vehicles andmachinery.Neste Oil CorporationHanna MaulaDirector, Corporate CommunicationsFurther information:Ari Juva, Senior Fellow, Neste Oil Corporation, tel.+358 (0)10 4583975, ari.juva(at)nesteoil.comJari Suominen, Director, Renewable Energy, St1 Oy, tel. +358 (0)10557 2371, jari.suominen(at)st1.fiNils-Olof Nylund, VTT, Research Professor, Traffic Energy Use andEngine Technology, tel. +358 (0)400 703 715, nils-olof.nylund(at)vtt.fi.Neste Oil in briefNeste Oil Corporation is a refining and marketing companyconcentrating on low-emission, high-quality traffic fuels. Thecompany is the world's leading supplier of renewable diesel. NesteOil's refineries are located in Porvoo and Naantali and have acombined crude oil refining capacity of approx. 260,000 barrels aday, that is 15 million tons a year. The company had net sales of EUR15 billion in 2008 and employs around 5,300 people. Neste Oil's shareis listed on the NASDAQ OMX Helsinki.Neste Oil has been selected into the Dow Jones Sustainability WorldIndex and awarded 'Best in Class' recognition for its socialaccountability by Storebrand. The company is also featured in theEthibel Pioneer Investment Register and included in Innovest's Global100 list of the world's most sustainable corporations. Furtherinformation: www.nesteoil.com.St1 in briefSt1 is a Finnish energy company whose vision is to be the leadingproducer and seller of CO2-aware energy. The company researches anddevelops economically viable, environmentally sustainable energysolutions. St1's energy services and products cover everything fromwind power to high-concentration ethanol Refuel RE85 produced frombiowaste. The company received the Motiva Renewable Energy Award for2009.St1 stays true to its vision by turning waste into bioethanol withthe help of the company's own award-winning dispersed Etanolix®production concept. To date, St1 has five bioethanol plants inFinland, and a total of around 650 petrol stations in Finland,Sweden, Norway and Poland. The company has its headquarters inHelsinki and offices in Stockholm and Warsaw. More information atwww.st1.eu.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 04.11.2009 - 12:00 Uhr
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