Latest news with #Neste
Trade Arabia
2 days ago
- Business
- Trade Arabia
Chevron Lummus, Neste to convert biomass waste to renewable fuels
Chevron Lummus Global (CLG) and Neste, a leading global producer of sustainable aviation fuel and renewable diesel, announced their progress in developing new technology for converting lignocellulosic biomass into high-quality, lower-emission renewable fuels. CLG, a joint venture between Chevron US and Lummus Technology, is a leading technology provider for the production of renewable and conventional transportation fuels, premium base oils, and sustainable petrochemicals from a wide range of feedstocks. Through close collaboration at CLG's state-of-the-art R&D facility in the US, Neste and CLG have successfully demonstrated proof of concept for converting lignocellulosic waste into renewable fuels, with highly promising initial results, it stated. On the new venture, Chevron Lummus Global CEO Rajesh Samarth said: "Our collaboration and initial success demonstrate the complementary strengths of Neste and CLG to create a powerful, scalable platform to produce renewable fuel from lignocellulosic raw material." "By advancing the hydroprocessing of diverse feedstocks, we're not only expanding the possibilities for renewable fuels but also setting a new benchmark for innovation in sustainable energy," he stated. The partnership combines CLG's extensive experience and proven track record in developing and licensing market leading refining technologies with Neste's pioneering expertise and global leadership in renewable fuels. With a successful proof of concept, the partners are now advancing to the next phase - further validating the process for commercial-scale deployment and unlocking the full potential of this abundant, underutilized feedstock. Lars Peter Lindfors, Senior Vice President of Technology and Innovation at Neste, pointed out that lignocellulosic waste and residues can make an important contribution as a new and scalable raw material pool for renewable fuels. "The technology development with CLG has progressed well and we are very encouraged by the initial results. Unlocking the potential of these promising raw materials would allow us to meet the growing demand of renewable fuels in the long-term and contribute to ambitious greenhouse gas emission reduction targets," he noted.
Yahoo
2 days ago
- Business
- Yahoo
Chevron Lummus Global and Neste advance partnership to convert lignocellulosic waste to renewable fuels
Partnership targets scalable solutions for renewable fuel production from biomass HOUSTON, June 11, 2025 /PRNewswire/ -- Chevron Lummus Global (CLG) and Neste, the world's leading producer of sustainable aviation fuel and renewable diesel, announced their progress in developing new technology for converting lignocellulosic biomass into high-quality, lower-emission renewable fuels. Through close collaboration at CLG's state-of-the-art R&D facility in the U.S., Neste and CLG have successfully demonstrated proof of concept for converting lignocellulosic waste into renewable fuels, with highly promising initial results. "Our collaboration and initial success demonstrate the complementary strengths of Neste and CLG to create a powerful, scalable platform to produce renewable fuel from lignocellulosic raw material," said Rajesh Samarth, Chief Executive Officer of Chevron Lummus Global. "By advancing the hydroprocessing of diverse feedstocks, we're not only expanding the possibilities for renewable fuels but also setting a new benchmark for innovation in sustainable energy." The partnership combines CLG's extensive experience and proven track record in developing and licensing market leading refining technologies with Neste's pioneering expertise and global leadership in renewable fuels. With a successful proof of concept, the partners are now advancing to the next phase—further validating the process for commercial-scale deployment and unlocking the full potential of this abundant, underutilized feedstock. "Lignocellulosic waste and residues can make an important contribution as a new and scalable raw material pool for renewable fuels," Lars Peter Lindfors, Senior Vice President of Technology and Innovation at Neste. "The technology development with CLG has progressed well and we are very encouraged by the initial results. Unlocking the potential of these promising raw materials would allow us to meet the growing demand of renewable fuels in the long-term and contribute to ambitious greenhouse gas emission reduction targets." About Chevron Lummus GlobalChevron Lummus Global (CLG), a joint venture between Chevron U.S.A. Inc. and Lummus Technology, is a leading technology provider for the production of renewable and conventional transportation fuels, premium base oils, and sustainable petrochemicals from a wide range of feedstocks. Powered by cutting-edge catalysts and innovative reactor internals, CLG's portfolio is designed to optimize efficiency and flexibility while minimizing emissions and maximizing economic returns. For more information, visit About NesteNeste (NESTE, Nasdaq Helsinki) creates solutions for mitigating climate change and accelerating a shift to a circular economy. The company is the world's leading producer of sustainable aviation fuel (SAF) and renewable diesel, enabling its customers to reduce their greenhouse gas emissions. Neste refines waste, residues and other renewable raw materials to high-quality renewable fuels at its refineries located on three continents. The company's annual renewable fuels production capacity will be increased to 6.8 million tons in 2027. Neste has high standards for sustainability and the company has consistently been recognized by several leading sustainability indices. In 2024, Neste's revenue stood at EUR 20.6 billion. Read more: View original content to download multimedia: SOURCE Chevron Lummus Global Sign in to access your portfolio
Associated Press
3 days ago
- Business
- Associated Press
FedEx Takes Delivery of Sustainable Aviation Fuel (SAF) From Neste at LAX
MEMPHIS, Tenn., June 9, 2025 /3BL/ - FedEx (NYSE: FDX) has announced an agreement with Neste, the world's leading producer of sustainable aviation fuel (SAF) and renewable diesel, securing more than three million gallons of blended sustainable aviation fuel (SAF) for delivery at Los Angeles International Airport (LAX) to the world's largest express cargo airline. Through this agreement, FedEx has purchased blended fuel from Neste, to include a minimum of 30% neat Neste MY Sustainable Aviation Fuel. As used in its blended form, the fuel will account for roughly a fifth of all jet fuel consumed annually by FedEx at LAX* and is the largest SAF purchase executed by a U.S. cargo airline at LAX to-date. Delivery of the fuel began earlier this month and will continue over the next year. 'Procuring SAF is an important component of our aviation emissions-reduction strategy in the coming years, and we are pleased to have executed a deal with Neste to begin using this fuel in our air operations,' said Karen Blanks Ellis, chief sustainability officer and vice president of Environmental Affairs, FedEx. 'Our aviation network represents the largest amount of FedEx fuel use globally and, as a result, is our biggest opportunity to drive down emissions. As we work toward our goal of carbon-neural operations by 2040, we need the SAF market to continue to grow to meet industry demand.' 'As the world's preeminent express transportation company, our initial U.S. deployment of this fuel advances our sustainability goals and bolsters the aviation industry's efforts to source and use more SAF,' said Richard Smith, chief operating officer, International, and chief executive officer, Airline, FedEx. 'While we know further growth of the SAF market is needed—alongside other innovations—we are proud to celebrate this milestone with our world-class air network.' 'Neste is excited to work with FedEx and support their ambitious goal of reaching carbon-neutral operations by 2040 with our SAF. Recognizing the important role of air cargo in the global economy, FedEx is demonstrating how this industry can leverage available lower-emission solutions like SAF to reduce its environmental impact. We look forward to further strengthening our cooperation,' says Carl Nyberg, Senior Vice President, Commercial, Renewable Products at Neste. This fuel purchase by FedEx builds upon years of the company's efforts to co-create innovative sustainable aviation technologies with other industry leaders, including the ecoDemonstrator flight-test program with Boeing—the world's first commercial airplane flight using 100% SAF in both engines that was conducted in 2018. In addition to the procurement of SAF, FedEx is pursuing multiple avenues to improve efficiency and reduce fuel consumption in its aviation operations overall, including aircraft fleet modernization, fuel conservation initiatives, and flight planning optimization. Collectively, fleet modernization and fuel saving efforts enabled FedEx in fiscal year 2024 to successfully achieve its goal of a 30% reduction in aviation emissions intensity from a 2005 baseline. FedEx set its first aviation emissions intensity reduction goals back in 2008. Sustainable aviation fuel, explainedSustainable aviation fuel is a more sustainable alternative to conventional, fossil-based jet fuel, largely driven by lower emissions from the feedstocks used in the fuel production process. Neat SAF is blended with conventional jet fuel before use and is considered a 'drop-in' fuel, meaning it works within existing aircraft engines and fueling infrastructure without any equipment updates. Neste MY Sustainable Aviation Fuel reduces greenhouse gas emissions by up to 80%** over the fuel's life cycle, compared to using conventional jet fuel. Neste SAF is made from 100% renewable waste and residue raw materials, such as used cooking oil and animal fat waste. While SAF production continues to grow in the U.S. and internationally, SAF accounted for less than 1% of all global jet fuel production in 2024. Amid the need for greater alternative fuel availability and accessibility for all airlines, FedEx will continue to advocate for expanded production and highlight SAF's potential environmental and economic benefits. Learn more about the FedEx sustainability strategy and the company's goal of carbon neutral global operations by 2040 here: * Based on FY25 fuel use forecasts ** When used in neat form (i.e. unblended) and calculated with established life cycle assessment (LCA) methodologies, such as CORSIA methodology About FedEx FedEx Corp. (NYSE: FDX) provides customers and businesses worldwide with a broad portfolio of transportation, e-commerce, and business services. With annual revenue of $88 billion, the company offers integrated business solutions utilizing its flexible, efficient, and intelligent global network. Consistently ranked among the world's most admired and trusted employers, FedEx inspires its more than 500,000 employees to remain focused on safety, the highest ethical and professional standards, and the needs of their customers and communities. FedEx is committed to connecting people and possibilities around the world responsibly and resourcefully, with a goal to achieve carbon-neutral operations by 2040. To learn more, please visit Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act, such as statements regarding business strategies and management's views with respect to future events, and the assumptions underlying such expected statements. Forward-looking statements include those preceded by, followed by or that include the words 'will,' 'may,' 'could,' 'would,' 'should,' 'believes,' 'expects,' 'forecasts,' 'anticipates,' 'plans,' 'estimates,' 'targets,' 'projects,' 'intends' or similar expressions. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, our ability to achieve our goal of carbon-neutral operations by 2040 and other factors which can be found in FedEx Corp.'s and its subsidiaries' press releases and FedEx Corp.'s filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. We do not undertake or assume any obligation to update or revise any forward--looking statement, whether as a result of new information, future events, or otherwise. Click here to learn about FedEx Cares, our global community engagement program. Visit 3BL Media to see more multimedia and stories from FedEx
Yahoo
26-05-2025
- Business
- Yahoo
$25+ BN Sustainable Aviation Fuel (SAF) Market Forecasts to 2030: Increasing Focus on Aircraft Modernization & Advancements in Feedstock Processing and Refining Technologies
Neste (Finland), Shell (UK), TotalEnergies (France), OMV Group (Austria), and World Energy, LLC (UK) are some of the key players operating in the sustainable aviation fuel market. These key players offer connectivity applicable to various sectors and have well-equipped and strong distribution networks across North America, Europe, Asia Pacific, the Middle East, and Latin America. Sustainable Aviation Fuel Market Dublin, May 26, 2025 (GLOBE NEWSWIRE) -- The "Sustainable Aviation Fuel Market by Fuel type(Biofuel, Hydrogen, PtL, GtL), by Biofuel Conversion Pathways (HEFA, FT, ATJ, Co-processing), by biofuel blending capacity (below 30%, 30% to 50%, Above 50%), Aircraft type and Region - Global Forecast to 2030" report has been added to sustainable aviation fuel market is estimated at USD 2.06 billion in 2025. It is projected to reach USD 25.62 billion by 2030, growing at a CAGR of 65.5%. In terms of volume, the market is projected to grow from 0.30 billion gallons in 2025 to 3.68 billion gallons by 2030. This report is a valuable resource for market leaders and newcomers, offering data that closely approximates revenue figures for the overall market and its subsegments. It equips stakeholders with a comprehensive understanding of the competitive landscape, facilitating informed decisions to enhance their market positioning and formulating effective go-to-market strategies. The report imparts valuable insights into the market dynamics, offering information on crucial factors such as drivers, restraints, challenges, and opportunities, enabling stakeholders to gauge the market's pulse. SAF is made from sustainable biomass, such as agricultural waste, used cooking oil, municipal solid waste, and non-food biomass. In recent years, SAF has emerged as the central solution to combat carbon neutrality and global climate objectives. The need for enhancing regulatory support, net-zero commitments by the aviation industry, and increased investments in SAF manufacturing technologies drive sustainable growth within this market globally. The business & general aviation segment is estimated to account for the second-largest share in on aircraft type, the sustainable aviation fuel market is categorized into commercial aviation, military aviation, business & general aviation, and Unmanned Aerial Vehicles (UAVs). The business & general aviation segment is projected to account for the second-largest market share in the sustainable aviation fuel market. Business & general aviation, which covers charter flights, private jets, and non-commercial aircraft, has increased its focus on carbon a result, operators and manufacturers are increasingly turning to SAF to meet regulatory requirements and consumer expectations for greener operations. To serve regulatory mandates and customer expectations for cleaner aviation, operators and manufacturers prefer SAF as their solution. Major business jet companies, such as Bombardier, Gulfstream, and Dassault, are actively promoting SAF adoption by certifying their aircraft for SAF compatibility and incorporating it into operations. With the growth of the commercial aviation industry as the largest consumer of SAF, quick uptake and significant per-flight fuel consumption of business and general aircraft are projected to boost the segment's growth during the forecast airliner segment is estimated to account for the largest share in on end user, the airliner segment is estimated to be the largest market by 2025 due to the ongoing expansion of air travel for tourism and business purposes. Airlines are expanding their fleets and replacing older aircraft with more efficient and technologically superior to meet increasing passenger volumes and environmental requirements. In addition, the need for new routes and higher frequencies of flights is fueling investments in aircraft acquisition, maintenance, and onboard services, all of which contribute to the market strength of the airliner segment. Furthermore, the airliner segment benefits significantly from substantial economies of scale and long-term strategic alliances with manufacturers and service providers. Airlines increasingly focus on improving passenger experience and operational efficiency through digitalization, such as integrating AI, IoT, and advanced analytics. With these developments, the airliner segment is set to continue its position as an aviation industry leader, contributing the largest share of the SAF is estimated to account for the second-largest share in is projected to account for the second-largest market due to robust regulatory support, aggressive climate policies, and a well-developed aviation infrastructure. The European Union has been leading the way in supporting SAF through measures like the ReFuelEU Aviation proposal, which requires rising SAF blending ratios over time. Moreover, the EU Emissions Trading System (EU ETS) encourages airlines to lower emissions further, compelling carriers to use cleaner fuel options such as Netherlands, France, Germany, and the UK are already investing in SAF production plants and setting up supply chains to cater to future demand. The presence of major SAF producers, such as SkyNRG and Neste, also characterizes Europe. In addition, European airlines are increasingly using SAF in aircraft as fuel, increasing their availability to commercial and general aviation planes. These collective efforts and infrastructure preparedness make Europe the second-largest market share in 2025. Insights Covered by the Report Analysis of key drivers and factors, such as advancements in feedstock processing and refining technologies, increasing adoption of fuel-efficient aircraft engines, and stringent environmental regulatory mandates Market Penetration: Comprehensive information on sustainable aviation fuel solutions offered by the top players in the market Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the sustainable aviation fuel market Market Development: Comprehensive information about lucrative markets across varied regions Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the sustainable aviation fuel market Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players in the sustainable aviation fuel market Key Attributes: Report Attribute Details No. of Pages 340 Forecast Period 2025 - 2030 Estimated Market Value (USD) in 2025 $2.06 Billion Forecasted Market Value (USD) by 2030 $25.62 Billion Compound Annual Growth Rate 65.5% Regions Covered Global Market Dynamics Drivers Advancements in Feedstock Processing and Refining Technologies Increasing Adoption of Fuel-Efficient Aircraft Engines Stringent Environmental Regulatory Mandates Restraints High Production Cost Limited Feedstock Availability Opportunities Rising Depletion of Fossil Fuels Growing Focus on Reducing Greenhouse Emissions Increasing Focus on Aircraft Modernization Challenges Integration of Saf Supply Chain With Existing Jet Fuel Supply Chain Lack of Sufficient Funding For Demonstration of Saf Technologies Infrastructural Limitations Case Studies All Nippon Airways (Ana) Incorporated Neste'S Saf To Reduce Lifecycle Greenhouse Emissions United Airlines Demonstrated Seamless Replacement of Traditional Jet Fuel With Saf Air New Zealand's Initiative Transformed Woody Waste Into Saf Organizations Involved in Saf Programs Sustainable Aviation Fuel User Group (Safug) Corsia: International Agreement Iata Net Zero Commitment Airport Carbon Accreditation Clean Skies For Tomorrow Eu Clean Aviation Joint Undertaking European Green Deal National Funding Programs International Air Transport Association Commercial Aviation Alternative Fuels Initiative (Caafi) Nordic & Nisa Initiatives For Sustainable Aviation Air Transport Action Group International Civil Aviation Organization (Icao) International Renewable Energy Agency Technology Analysis Key Technologies Bioforming Process Lignocellulosic Biomass Pretreatment Technologies Adjacent Technologies Advanced Feedstock Processing Digital Fuel Tracking & Blockchain For Emission Auditing Complementary Technologies Carbon Capture and Utilization (Ccu) Hydrogen Electrolysis Impact of AI/Generative AI on Saf Market Feedstock Optimization Process Efficiency and Yield Improvement Predictive Supply Chain Management Lifecycle and Emission Modeling Accelerated R&D and Innovation Industry Trends Technology Trends Ethanol-To-Jet (Etj) Technology Advanced Gasification Hydrocracking Technology Unicracking by Fischer-Tropsch Ft Catalysts Saf-Compatible Turbine Generator Impact of Megatrends Internet of Things (Iot) For Emission Monitoring Artificial Intelligence (AI) For Feedstock Optimization Digital Twins For Fuel Blend Experiments Collaborative Industry Platforms For Knowledge Sharing Company Profiles Key Players Neste Business Overview Products/Solutions Offered Recent Developments The Analyst's View Key Strengths Strategic Choices Weaknesses and Competitive Threats Totalenergies World Energy, Llc Eni S.P.A Omv Aktiengesellschaft Shell International B.V. Gevo Velocys Ltd. Northwest Advanced Bio-Fuels, Llc Skynrg B.V. Topsoe a/S Aemetis, Inc. World Kinect Corporation Phillips 66 Company Alder Energy, Llc Moeve Preem Ab Bp P.L.C. Repsol Other Players Atmosfair Gmbh Saf Plus International Group Cemvita Dg Fuels, Llc Wastefuel Red Rock Biofuels Air Company Holdings Inc Dimensional Energy Virent, Inc. Sgp Bioenergy Holdings, Llc For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Sustainable Aviation Fuel Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Finextra
06-05-2025
- Automotive
- Finextra
ReceiptHero joins Visa's Fleet & Mobility Partner Programme
ReceiptHero, the leading digital receipt platform in Europe, is proud to announce its official inclusion in the Visa Ready for Fleet and Mobility Partner Programme, further strengthening our commitment to enhancing digital infrastructure across the Fleet and Mobility landscape. 0 Visa's Ready for Fleet and Mobility Partner Programme is designed to accelerate innovation and time-to-market for fuel card providers, issuers, and ecosystem partners by connecting them with trusted, market-ready solutions that support Visa's Fleet 2.0 Specifications. As a preferred digital receipt provider, ReceiptHero joins a curated network of partners driving the future of fleet payments. Supporting Fuel Retailers and EV Charging Networks ReceiptHero's participation in the programme is a significant step forward in helping fuel retailers and EV charging point operators meet the growing demand for seamless, real-time expense data and digital documentation. Our platform integrates directly with point-of-sale systems and payment networks to automatically deliver digital receipts to fleet platforms, enabling businesses to: • Reduce administrative burden and eliminate paper processes; • Access real-time transactional data; • Strengthen VAT compliance and audit readiness; and • Improve sustainability performance by reducing paper waste. ReceiptHero has already announced various integrations into mobility systems, for example Siemens Sicharge D and CIRRANTIC. Fuel retailers already seeing the benefit of ReceiptHero's real-time digital receipt solution is Neste, with almost 1000 manned and unmanned fuel stations in Finland, Estonia, Latvia and Lithuania. A Strategic Fit for the Future of Fleet "The future of fleet and mobility is digital, data-driven, and increasingly focused on sustainability," said Saku Pihlajaniemi, CEO of ReceiptHero. "Joining Visa's Ready for Fleet Partner Programme validates our role in that future. We're thrilled to collaborate with Visa and other industry leaders to bring next-generation receipt solutions to a wider audience." Richard Campion Head of Fleet & B2B Mobility, Visa Europe added: 'Collaboration with likeminded partners is at the heart of what we do at Visa. We welcome ReceiptHero into our Visa Ready for Fleet programme, as we continue to push forward next generation solutions for our Fleet & Mobility clients.' Through this collaboration, ReceiptHero will contribute to: • Faster deployment of compliant fleet card solutions in Europe; • Improved spend visibility for fleet managers and operators; and • Enhanced customer experiences at the pump and charge point. What's Next? Our solutions are now formally recognised within Visa's mobility partner ecosystem and are available to support Visa clients looking to innovate and scale their fleet payment propositions.
