Neste welcomes US EPA's proposal on renewable fuel volume requirements
Neste Corporation
Press release
1 June 2015 at 9.15 a.m. (EET)
Neste welcomes US EPA's proposal on renewable fuel volume requirements
The Environmental Protection Agency (EPA) in the US published the proposed ruling covering renewable fuel volume requirements for 2014, 2015, and 2016 on 29 May 2015. The EPA is proposing to set the renewable fuel standards for 2014 at the levels that were actually produced and used in the US and proposes steady increases each year thereafter. The proposal for year 2014 includes a requirement of 1.63 billion gallons for the biomass-based diesel mandate (up from 1.28 billion gallons in 2013). EPA is expected to finalize the volume requirements for 2014, 2015, and 2016 by 30 November. The proposal is available at EPA's website.
"The proposal demonstrates EPA's commitment to enforce existing Renewable Fuel Standard (RFS2) and provides a basis for consistency and predictability for the future years," says Kaisa Hietala, Executive Vice President of Neste's Renewable Products business area.
"The US continues to be an important market to Neste and our NEXBTL renewable diesel. The increase in advanced biofuels that EPA is proposing is in line with our commitment to increased use of wastes and residues. We look forward to continued participation in the US market and the finalization of the volume requirements", continues Hietala.
Neste provides NEXBTL renewable diesel to customers in the US, where the fuel meets the requirements of an advanced biofuel in the biomass-based diesel category. NEXBTL is an ideal low-carbon fuel for US refiners, blenders, and fuel distributors to meet their renewable fuel standard obligations, as it is fully compatible with existing fuel distribution systems. California based Propel Fuels, for instance, sells a fuel called Diesel HPR containing 98.5% NEXBTL renewable diesel at its retail stations.
Neste Corporation
Kaisa Lipponen
Director, Corporate Communications
Further information:
Kaisa Hietala, Executive Vice President, Renewable Products, Neste, tel. +358 10 458 4128
Neste in brief
Neste is a forerunner in oil refining and renewable solutions. We offer our customers cleaner traffic solutions and industrial products based on cutting-edge research. Our sustainable practices have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world's most sustainable companies. In 2014, our revenue amounted to EUR 15 billion. Neste shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by 5,000 professionals. Learn more at neste.com
