Neste buys Crimson used cooking oil business
Neste has closed the acquisition of the used cooking oil (UCO) collection division of Crimson Renewable Energy Holdings.
It now owns shares in SeQuential Environmental Services and Pure, as well as a UCO processing plant in Salem, Oregon. The acquisition gives Neste UCO collection market share in California, Oregon and Washington.
“The completion of this transaction is another important step for Neste in growing renewable and circular solutions, following our strategy,” said Matti Lehmus, president and CEO, Neste. “We are strengthening our presence and operations in the United States and on the US West Coast which is an important market for servicing our customers and the location for our joint venture for renewable diesel production in Martinez, California. I am happy to welcome the team to join Neste’s operations in the US.”
Neste is the world’s largest Sustainable Aviation Fuel (SAF) and renewable diesel producer. This is its fifth significant supply chain acquisition as it tries to ensure feedstock. It also bought Mahoney Environmental and Agri Trading in the United States, IH Demeter in the Netherlands, and Walco Foods in Ireland.