Neste completes realignment of renewable fuels business

Neste is currently Europe’s leading producer of HVO (Photo: Neste)

Following on from an announcement outlining restructuring plans in November 2023, Neste has completed the reorganization of its renewable fuels business. The three formerly separate units will now operate as one Renewable Products business unit.

The goal of this simplified stricture is to support the company’s on-going growth strategy through improved cost-efficiency.

While the changes are expected to deliver total annual cost savings of about €50 million, the restructuring will also see about 400 jobs eliminated from across the Neste renewable energy business.

With headquarters in Finland, Neste is currently the world’s leading producer of sustainable aviation fuel and renewable diesel. The company has targeted helping customers to reduce their total annual greenhouse gas emissions by a minimum of 20 million tons by 2030.