NEWS SUMMARY
- World Fuel Services (World Fuel) and Neste have signed an
agreement to expand the supply of Sustainable Aviation Fuel
(SAF).
- This agreement opens up a greater supply of SAF for World Fuel
to distribute to customers throughout Europe.
- Currently, 13 airports are supplied with SAF by World Fuel,
which will increase to over 40 with this agreement.
- In 2023, World Fuel estimates delivering more than 20 times the
volume delivered in 2022.
HOUSTON, May 22, 2023 /PRNewswire/ -- World Fuel
Services (World Fuel) and Neste today announce their recently
signed agreement for Sustainable Aviation Fuel (SAF), further
strengthening the relationship between these two global companies.
This agreement provides World Fuel with greater access to the
currently limited supply of SAF available for European commercial,
business, and general aviation customers. Increasing the
accessibility of renewable fuels like SAF worldwide is a key tenet
of World Fuel's mission to enable its
customers and partners
to decarbonize their operations.
The new supply agreement extends the already strong
collaboration on SAF, which brings together Neste's
well-established production capabilities with World Fuel's global
distribution network and large customer base. With greater
committed volumes of SAF from Neste under the new agreement, World
Fuel has increased the number of European airports they can supply
with SAF from 13 to over 40. This collaboration also paves the way
for expanding the accessibility of SAF at more than 100 airport
locations presently in World Fuel's European network.
"Neste is fully committed to supporting the aviation industry to
achieve its net zero carbon emissions goal. Working closely with
partners like World Fuel Services is crucial as it will help us
accelerate the supply and usage of sustainable aviation fuel across
World Fuel's extensive global network of airports. We are excited
to expand our collaboration with World Fuel as we increase our
annual SAF production capability to 1.5 million tons per annum by
the end of 2023," said Alexander
Kueper, vice president EMEA, from the Renewable Aviation
business unit at Neste.
With this agreement, World Fuel builds on its existing track
record of providing sustainable energy to customers to reduce
carbon emissions. Since 2015, World Fuel has delivered nearly 40
million gallons of SAF to business and commercial aviation
customers worldwide. The agreement with Neste will significantly
impact the availability of SAF in Europe.
"We are excited to have created a framework that enables us to
more reliably provide our customers across Europe with SAF in a timely and expedient
manner," says Duncan Storey, vice
president, supply aviation Europe,
World Fuel Services. "We are confident this agreement and
deeper collaboration with Neste will serve to accelerate our
ability to support customers in their decarbonization ambitions
across the globe. This initiative is another example of the many
actions we have taken to bring renewable fuels and sustainable
practices to a wider audience."
About World Fuel Services
Headquartered in Miami,
Florida, World Fuel Services is a global energy management
company involved in providing supply fulfillment, energy
procurement advisory services, and transaction and payment
management solutions to commercial and industrial customers
worldwide. World Fuel Services sells and delivers liquid fuels,
natural gas, electricity, renewable energy, and other
sustainability solutions to its clients at more than 8,000
locations in more than 200 countries and territories through its
Marine, Aviation, and World Kinect Energy Services divisions. For
more information, visit www.wfscorp.com or
www.world-kinect.com.
About Neste
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 sustainable aviation fuel
and renewable diesel and developing chemical recycling to combat
the plastic waste challenge. We aim at helping customers to reduce
their greenhouse gas emissions with our renewable and circular
solutions by at least 20 million tons annually by 2030. Our
ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in
Europe by 2030. We are introducing
renewable and recycled raw materials such as liquefied waste
plastic as refinery raw materials. We have committed to reaching
carbon-neutral production by 2035, and we will reduce the carbon
emission intensity of sold products by 50% by 2040. We also have
set high standards for biodiversity, human rights and supply chain.
We have consistently been included in the Dow Jones Sustainability
Indices and the Global 100 list of the world's most sustainable
companies. In 2022, Neste's revenue stood at
EUR 25.7 billion. Read more: neste.com
Please subscribe to Neste's releases at
https://www.neste.com/for-media/releases-and-news/subscribe.
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