Neste Boosts Renewables with Agri Trading Buy
Neste has agreed to buy Agri Trading, a US trader of renewable waste and residue fat and oil for an undisclosed sum. The company said the move will enhance its competitiveness in the global waste and residue raw material market.
Based in Hutchinson, Minnesota, Agri Trading is regarded as an industry leader in trading animal fat waste, used cooking oil, technical corn oil, and other vegetable oils throughout the lower 48 US states, Canada, Mexico and Europe.
“This agreement supports our renewables growth strategy and further strengthens our global renewable raw material sourcing as well as our footprint in the US,” said Neste’s president and CEO Peter Vanacker. “Agri Trading complements our previous acquisition of Mahoney Environmental in the US with its wide trading network of renewable raw materials compounded with efficient logistics.”
The Finnish company bought Mahoney Environmental, a leading collector and recycler of used cooking oil, in May 2020. That same month, Neste closed its acquisition of Count Terminal Rotterdam in the Netherlands. Count Terminal stores, refines and blends renewable waste and residue-based raw materials in the Rotterdam harbor area.
More recently, in March, Neste closed its purchase of Bunge Loders Croklaan’s refinery in Rotterdam, the Netherlands. The refinery, which is located next to Neste’s biorefinery, will be ready to process Neste’s waste and residues feedstock by the end of 2024.
Author: Elaine Burridge, Freelance Journalist
