Neste

Reinforcing recycling, rerouting refuse, and reducing wasteflows

Waste Recovery & Management Tech

Based in Ohio, Alterra Energy works with waste management companies, petrochemical companies, and government agencies to collect unusable plastic and convert it into new materials like crude oil, wax, and recycled plastic. This is done using a ​​thermochemical liquefaction process technology also known as pyrolysis. The recycled plastic materials are sent to manufacturers to be remade into new products such as feedstock for polymers and chemicals.As of July 2021, the company operated one plant in Ohio to recycle 60 tons of plastic per day. Finland’s Neste, an oil refining company, acquired a minority stake in Alterra in January 2021 to use its technology to recycle plastic waste into crude oil. This was then used by Neste as feedstock in its production process. The two companies were to build a factory in Europe by 2021. In July 2021, Ravago (a Turkish producer and distributor of plastic, rubber, and chemicals) invested in Alterra to transform its plastic waste into ISCC PLUS certified material with Alterra’s technology.In October 2021, Alterra Energy announced providing its thermochemical liquefaction technology to a pyrolysis-based chemical recycling plant in the Netherlands. The facility is a joint venture catering to Neste’s and Ravago’s joint ambition of processing 200,000 tonnes of mixed plastic waste, and will combine Alterra Energy’s technology to do so.In <a href="https://sp-edge.com/updates/16438">February 2023 </a>, the company announced its license arrangement with a subsidiary of Freepoint Eco-Systems, to secure and recycle plastic, for a proposed 192,000 tonnes per annum advanced plastics recycling facility in the Gulf Coast region.

Hydrogen Economy

<div>
 
 Sunfire offers systems for renewable hydrogen, syngas, and e-fuel production. Its &ldquo;Hylink&rdquo; high-temperature electrolyzers are based on alkaline and solid oxide electrolyzer cells (SOEC) technologies for hydrogen production. Its alkaline Hylink electrolyzer, with a scalable design, can produce 2,230 normal cubic meters of hydrogen per hour (Nm&sup3;/h), at a gauge pressure of 30 bar (barg), with a power consumption of 4.7 kilowatt hours per normal cubic meter (kWh/Nm&sup3;). Its SOEC system, with a modular design, can produce 750 Nm&sup3;/h hydrogen with a power consumption of 3.6 kWh/Nm&sup3;.
 
 
 In 2014, Sunfire also opened a demonstration Power-to-Liquid (PtL) production plant in Dresden, Germany to produce renewable e-fuels. Also, in June 2020, Sunfire joined forces with a consortium of companies led by Norway-based Norsk e-Fuel to build Europe&rsquo;s first commercial plant for hydrogen-based renewable aviation fuel in Norway. The plant is planned to be operational by 2024.&nbsp;
 
 
 In November 2023, Sunfire announced that it would invest EUR 30 million (USD 32 million) in its Dresden headquarters over the next few years to expand its R&amp;D center, including prototype manufacturing. Earlier that year, Sunfire commenced serial production of electrolyzers, expanding its proven electroplating line and commissioning a 500 MW facility. In December 2023, Sunfire partnered with Fraunhofer IFAM, a non-university institution focused on applied research and the development and qualification of materials for alkaline stacks, to develop an anion exchange membrane (AEM) electrolyzer in the upper double-digit kW range for industrial-scale application.
 
 
 Key customers and partnerships
 
 
 As of June 2021, the German company was involved in four different projects to provide electrolysis solutions. Its partners include Neste, a Finnish provider of oil refining and renewable solutions; 
 <a href="https://sp-edge.com/updates/9403">
 MPREIS
 </a>
 , an Austrian food retail company; Salzgitter, a Germany-based steel manufacturer; Total, a French oil and gas company; and 
 <a href="https://sp-edge.com/updates/12128">
 Uniper
 </a>
 , a Germany-based energy supplier. As of November 2023, Sunfire&rsquo;s electrolyzers have been installed at industrial partners including RWE, Salzgitter AG, and Neste.
 
 
 In partnership with project developer P2X Solutions, Sunfire completed the installation of a pressurized alkaline electrolyzer at Finland's first industrial-scale electrolysis plant in Harjavalta in February 2024, with green hydrogen production expected in 1H 2024. In addition, in August 2023, Sunfire received its first commercial order to supply a 100 MW pressurized alkaline electrolyzer, consisting of ten 10 MW modules and power supply units, to a European refinery. Sunfire is responsible for overseeing the installation and commissioning of the system, which is expected to be operational in early 2026.
 
 
 Sunfire has also made several acquisitions including New Enerday, a German fuel cell manufacturer, in 2018, Industrie Haute Technology (IHT), a Swiss alkaline electrolysis company, in January 2021 and 
 <a href="https://sp-edge.com/updates/7847">
 MTV NT Solingen branch
 </a>
 , a German electroplating specialist, in January 2022.
 
 
 Funding and financials
 
 
 In August 2023, Sunfire received a EUR 169 million (USD 180 million) grant as part of the Important Projects of Common European Interest (IPCEI), reportedly becoming the only German producer of large-scale electrolyzers to receive such support. The funds will be used to establish the first industrial series production of its electrolysis technologies.
 
 
 Prior to this, the company&rsquo;s most recent funding round was in 
 <a href="https://sp-edge.com/updates/11640">
 July 2022
 </a>
 , when it raised an undisclosed investment from Amazon&rsquo;s Climate Pledge Fund. In March 2022, the company raised EUR 86 million (USD 94.9 million) as the 
 <a href="https://sp-edge.com/updates/9366">
 second tranche
 </a>
 of its Series D funding round co-led by Copenhagen Infrastructure Partners (CIP) and Blue Earth Capital. The 
 <a href="https://sp-edge.com/updates/6057">
 first tranche
 
 </a>
 of the company&rsquo;s Series D round was in October 2021 when it raised EUR 109 million (USD 125 million) from a consortium of investors led by Lightrock and Planet First Partners. In January 2022, Sunfire 
 <a href="https://sp-edge.com/updates/7654">
 received a grant
 </a>
 of EUR 60 million (USD 68 million) from the Federal Ministry of Education and Research to lead the H2Giga project. The grant funding was utilized to develop the company&rsquo;s SOEC technology and pressurized alkaline electrolyzers.
 
</div>

Empowering efficiency, visibility and collaboration throughout supply networks

Supply Chain Tech

<div>
 
 Netherland-based Circularise is a technology company dedicated to transforming global supply chains through transparency, traceability, and sustainability. The company offers a blockchain-based platform that enables businesses to track, trace, and authenticate materials and products throughout the entire lifecycle from sourcing to disposal. The platform also enables the visibility of certifications, Co2 footprint, and impact assessment across supply chains.
 
 
 
 
 The company's solutions include a bookkeeping tool to automate mass balance bookkeeping. The solution enables its users to manage mass balance material receival and transfer on one platform.
 
 
 
 
 The company&rsquo;s solutions are targeted at various supply chain actors including suppliers, converters, and brands and OEMs in the automotive, aviation, batteries, biofuels, construction, electronics, metals, and plastics industries.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 As of October 2023, the company served clients such as Asahi Kasei, Covestro, Domo Chemicals, Marubeni, Mitsubishi Chemicals, Neste,&nbsp; Philips Domestic Appliances, and Porsche.
 
 
 
 
 In February 2022, the company partnered with BEC GmbH, Grundfos, Minviro, and the global Rare Earth Industry Association (REIA) to build a blockchain-based circular system that would improve transparency and sustainability of supply chains that involve critical and rare earth materials. In October 2023, the company partnered GoodFuels, FincoEnergies&rsquo; sustainable fuels brand, to deploy its software to enable the traceability of the biofuels supply chain by digitizing the biofuels record management process. ​
 
 
 
 
 Funding and financials
 
 
 
 
 &zwj;In November 2022, the company raised EUR 11 million (USD 11.4 million) in a Series A funding round led by Brightlands Venture Partners. The funds are intended to be used to advance its mission to transition industrial supply chains from a linear to a circular economy through traceability and transparency. 
 
 
 
</div>

Circularise is a digital product passports and mass balance bookkeeping software provider and operates in the sustainability and supply chain transparency market. Circularise’s software system helps suppliers, manufacturers, recyclers and brands in chemicals, plastics, battery materials, metals, and other industries to trace materials and share their environmental footprint without risking their sensitive data via our patented Smart Questioning feature. By extension, it helps brands to get visibility into their own Scope 3 emissions and other metrics, which is aligned with the regulatory push around Digital Product Passports, the SEC’s proposed climate risk disclosure rules, and the Corporate Sustainability Reporting Directive.  The company's primary offering is a digital product passport, a detailed record of a product's origin, material composition, and environmental data. This passport is backed by a blockchain-powered chain of custody, ensuring the data's security and reliability. This allows companies to demonstrate the sustainability of their products and services, a factor increasingly demanded by consumers and regulators. Circularise also provides tools for conducting comprehensive Life Cycle Assessments (LCAs) and calculating Product Carbon Footprints (PCFs). These tools help establish a trustworthy record of a product's environmental impact and streamline the auditing process.  The company's platform also facilitates compliance with various regulations and certifications, such as the ISCC Plus and ISCC EU certifications via its MassBalancer solution which helps companies to manage materials using pre-defined processes and conversion factors without the risk of over-allocation, as well as send products and generate sustainability declarations in a few clicks. The company's products are designed with data privacy at the core via our patented Smart Questioning feature, allowing clients to control which data they share and with whom they share it with.  It allows companies to share data on sourcing, carbon footprint, and human rights issues, reducing manual processes and the risk of costly mistakes.

Alterra Energy is an innovative chemical recycling technology company. Alterra Energy engages in developing and commercializing continuous recycling technology, which transforms waste plastic into petrochemical products.

Sunfire develops and manufactures systems for renewable industrial gas and fuel production. These substitutes for mineral oil and natural gas, known as e-Gas, e-Fuel or e-Chemicals, replace fossil fuels in existing infrastructures. The solid oxide cells (SOCs) used for the conversion process are also used as generators to provide electricity and heat. Sunfire’s vision is to make regenerative energy from sources such as wind farms, hydropower plants, and photovoltaic systems available wherever and whenever it is needed — not just when the wind is blowing, the waves are crashing or the sun is shining.

Neste creates sustainable aviation fuel, renewable diesel, and renewable feedstock solutions for the polymers and chemicals industries. Its global range of products and services allows customers to lower their carbon footprint by combining high-quality renewable products and oil products with tailor-made service solutions.  Neste is a major producer of renewable diesel and renewable aviation fuel. They are recognized for their efforts in developing and commercializing advanced biofuels that aim to reduce greenhouse gas emissions. The company places a strong emphasis on sustainability and is committed to producing renewable and low-carbon products. Their goal is to contribute to a more sustainable future by providing alternatives to conventional fossil fuels. It is involved in the concept of the circular economy, where it aim to turn waste and residues into valuable raw materials. This approach aligns with their commitment to sustainability and reducing the environmental impact of their operations. While historically known as an oil refining company, Neste has strategically shifted its focus towards renewable solutions and sustainable business practices.

<div> Neste (NESTE, Nasdaq Helsinki) is a leading producer of sustainable aviation fuel (SAF) and renewable diesel. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. Neste's Renewable Products segment produces renewable diesel, sustainable aviation fuel, and renewable feedstock for various polymers and chemicals. The company's SAF is made from 100% renewable waste and residue raw materials such as used cooking oil and animal fat waste. It can reduce greenhouse gas emissions by up to 80% over its lifecycle compared to fossil jet fuel. Neste blends its SAF with conventional jet fuel before use, allowing it to work seamlessly with existing aircraft engines and fueling infrastructure. In 2023, Neste produced almost 3.27 million tonnes of renewable diesel, up 15% from 2022, and 251,000 tonnes of SAF, a 59% increase. The company has expanded its Singapore refinery, increasing its annual SAF production capacity to over 1 million tonnes. Neste aims to help customers reduce their greenhouse gas emissions by at least 20 million tons annually by 2030. The company has partnered with major airlines like United Airlines, American Airlines, and All Nippon Airways to supply SAF globally. Neste is committed to reaching carbon-neutral production by 2035 and reducing the carbon emission intensity of sold products by 50% by 2040. </div>

Neste just upgraded at SEB Equities, here's why

Earth-friendly biotech solutions for the textile, packaging and construction industries.

Bio-based Materials

ANALYST_QUICK_TAKE

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 The Finland-based sustainable fuels and renewable feedstock solutions company, Neste, is joining forces with Mitsubishi Corporation (MC) in Japan to create supply chains for renewable chemicals and plastics. The aim is to supply various sectors in Japan including food and beverage, clothing, and consumer electronics.
 For this initiative, Neste will provide its bio-based plastic feedstock, Neste RE, and expertise in sustainable materials, while MC will utilize its business development and supply chain management experience. The collaboration will offer green alternatives to Japanese brands interested in minimizing greenhouse gas emissions and reliance on fossil resources in their supply chains. Prior collaborations between the two companies have yielded projects like renewable PET bottles and bio-based clothing.

</div> Analyst QuickTake: 
 The partnership follows the <a href="https: 
//sp-edge.com/updates/30417"> July 2024 </a> partnership with Marubeni and Resonac to produce bio-based chemicals in Japan using Neste's bio-based feedstock. In <a href="https: 
//sp-edge.com/updates/24180"> November 2023 </a> , the company partnered with Mitsui Chemicals and Prime Polymer to develop bio-based food packaging in Japan. Mitsubishi Corporation is also a member of Neste’s consortium to establish a sustainable polyester supply chain in Asia, launched in <a href="https: 
//sp-edge.com/updates/31205"> July 2024 </a> .

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