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Funding for biodiesel raw material R&D

Neste Oil has been granted a €50 million loan from the Nordic Investment Bank (NIB) for R&D into extending the range of raw materials for biodiesel production.

By Renewable Energy Focus staff

Neste Oil's Senior Vice President, Technology and Strategy, Lars Peter Lindfors, says: "The additional funding that it will provide will secure the continuation of our cutting-edge R&D work and the future development of our NExBTL renewable diesel technology."

Neste Oil will use the loan to fund existing research programs and its research infrastructure.

The biodiesel company focuses primarily on non-food materials and inputs that can help reduce the amount of land used for energy purposes. Progress has recently been made in research into microbial and algae oil and the use of wood-based biomass for biodiesel production.

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