Neste Oil has signed a contingent commercial off-take agreement with Cellana that will enable Neste Oil to purchase Cellana’s algae oil for use as a feedstock in the future for producing renewable fuel. The agreement is contingent on Cellana’s future production capacity and on compliance with future biofuel legislation in the EU and US, among other factors.
The agreement is non-exclusive and allows each company to enter into additional agreements with other parties. Neste Oil, for example, is involved in university-led algae research projects in Australia and the Netherlands that are testing a range of methods for cultivating algae outdoors.
Neste Oil says it currently is the world’s only biofuel producer capable of refining premium-quality renewable fuel from over ten different feedstocks on an industrial scale. “Studies have already shown that algae oil can be used successfully in our NExBTL process”, says Neste Oil’s Senior Vice President, Technology, Lars Peter Lindfors.
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