Neste’s acquisition of US-based company Mahoney Environmental closed


Neste Corporation, Press Release, 4 May 2020 at 9 a.m. (EET)

In March 2020, Neste announced that it would acquire Mahoney Environmental (Mahoney), a leading collector and recycler of used cooking oil in the United States, and its affiliated entities. The acquisition has been approved by regulatory authorities, and the deal has been closed.

“The completion of this transaction is an important step forward in delivering on Neste’s growth strategy in renewables and in strengthening our global renewable raw material platform, building on the company’s acquisition of Dutch animal fat trader IH Demeter in 2018. I am happy to welcome Mahoney personnel to our joint journey on creating a healthier planet for our children,” says Neste’s President and CEO Peter Vanacker.  

Neste’s feedstock strategy is focusing on waste and residues growth and the development of new feedstock sources. The company is targeting 100% waste and residues share by 2025. Mahoney Environmental is an important partner for Neste to achieve this goal, as they already have access to a substantial volume of used cooking oil with room to grow across North America. 

Mahoney’s unique, integrated business model sets it apart from competitors. Alongside used cooking oil collection and recycling, Mahoney also provides cooking oil equipment installation and design, fresh oil delivery and grease trap cleaning. 

Neste Corporation

Susanna Sieppi 
Vice President, Communications (act)

More information: Please contact Neste’s media service, tel. +358 50 458 5076 / media@neste.com

Follow us on Twitter at @NesteGlobal and @Neste_US, and on LinkedIn at www.linkedin.com/company/neste/

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 2019, Neste's revenue stood at EUR 15.8 billion. In 2020, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com

 

About Us

Neste in brief Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of renewable diesel and sustainable aviation fuel, developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. As a technologically advanced refiner of high-quality oil products with a commitment to reach carbon-neutral production by 2035, we are also introducing renewable and recycled raw materials such as waste plastic as refinery raw materials. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2019, Neste's revenue stood at EUR 15.8 billion, with 82% of the company’s comparable operating profit coming from renewable products. Read more: neste.com

Contacts

  • Media phone

    +358 50 458 5076


    You can reach us during office hours on week days (Finnish time) between 8.30 - 16.00, or via email at media(at)neste.com
  • Susanna Sieppi

    Vice President, Communications (act.)


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