Neste and Aalto University to begin strategic research cooperation to strengthen Finnish competitiveness

Image: Neste's President & CEO Matti Lievonen and Aalto University's President Ilkka Niemelä signed the letter of intent on strategic cooperation in Espoo, Finland.

Neste Corporation Press Release 10 October 2018 at 9 am. (EET)

Neste and Aalto University have today signed a letter of intent on strategic cooperation and the creation of a new research portfolio. The aim of the cooperation is to increase Finnish chemical industry expertise in chemical engineering, bioeconomy, circular economy, and digitalization. It is also intended to support important growth areas for Neste, such as renewable products and low carbon solutions.

"We are very pleased with this new kind of strategic cooperation with Aalto University. The overall purpose of the projects that the research portfolio includes is to improve the competitiveness of the Finnish chemical industry, and, indeed, of society as a whole. Finland’s undoubted strengths are highly trained professionals and a drive for research and the development of innovations. This know-how and passion for renewal are also the foundations of Neste’s success,” says Matti Lievonen, the President & CEO of Neste.

“We and Neste will together be able to identify and solve complex challenges and to educate far-sighted specialists of the future. Aalto University and Neste have long been partners, but this strategic cooperation model and new research portfolio open the door to an entirely new kind of collaboration. We expect our cooperation to grow and expand significantly over the course of long-term endeavors,” says Ilkka Niemelä, President of Aalto University.

The research portfolio projects are due to begin in the first half of 2019.

Neste Corporation

Kaisa Lipponen
Director, Corporate Communications

More information: Lars Peter Lindfors, Senior Vice President, Technology, Neste, lars-peter.lindfors(at)neste.com, tel. +358 50 458 3605; Janne Laine, Dean, School of Chemical Engineering, Aalto University, janne.laine(at)aalto.fi, tel. +358 50 465 6835

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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