Swiss authorities' decision leads to the cancellation of the Renewable Jet Fuel project in Geneva Airport
Neste Corporation Press Release, 21 August 2018 at 4 pm (EET)
As announced at the end of 2017, Geneva Airport aspired to replace 1% of the conventional jet fuel used for aircrafts with renewable jet fuel in a pilot project with Neste, the leading renewable fuels company. A case for project facilitation funding was made to the Swiss authorities, which after a long period of consultation, decided not to commit to the project.
“The authorities’ decision not to support the Renewable Jet Fuel project in Geneva Airport is a disappointment, but does not affect Neste’s plan to bring Neste MY Renewable Jet fuel to the global market. We have announced collaboration agreements with other airports and airlines already, and I believe several other announcements will follow in the near future,” says Kaisa Hietala, Executive Vice President of Neste’s Renewable Products business area.
“I want to thank Geneva Airport and other stakeholders for insightful cooperation. Over the past months we have gained tremendous knowledge around developing renewable jet fuel supply-chains which complement existing airport infra and operations. We are looking forward to leveraging this knowledge in the future collaborations,” says Kaisa Hietala, Executive Vice President of Neste’s Renewable Products business area.
Neste’s renewable jet fuel production continues as planned and volumes will increase year-on-year. With Neste’s planned additional 1 million ton renewable product capacity in Singapore the renewable jet fuel production is estimated to increase significantly by 2022.
Under the umbrella of Neste Green Hub, Neste continues efforts linked to the reduction of CO2 emissions in aviation, and support the objectives set by the International Civil Aviation Organization (ICAO) for carbon-neutral growth in aviation from 2020. Neste Green Hub connects key stakeholders and creates the right ecosystem to increase sustainability across the aviation industry. It creates a platform where airports, solutions providers, airlines, authorities, local community and passengers all unite and contribute to more sustainable travelling. Neste MY Renewable Jet Fuel is an essential element in the Green Hub initiative.
Neste Corporation
Kaisa Lipponen
Director, Corporate Communications and Brand Marketing
Further information: Kaisa Hietala, Executive Vice President, Renewable Products business area, Neste, tel. +358 10 458 4128
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2017, Neste's revenue stood at EUR 13.2 billion. In 2018, Neste placed 2nd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com