The oil that cooked your fries is now refueling your aircraft

The world’s biggest maker of renewable diesel says it’s creating a new market for low-carbon jet fuel as passengers slowly return to the skies. Neste Oyj is betting that sustainable aviation fuel, SAF, will appeal to businesses eager to cut carbon emissions. The company also expects the fuel’s higher price won’t be an obstacle, as post-pandemic air travel resumes with a more climate-conscious mindset. “People will start flying again, but then they want to fly in a more sustainable way,” CEO Peter Vanacker said. “Just like we did with renewable diesel, we are creating this market.” The Finnish company is investing about $230m to equip its Rotterdam renewables refinery to make more sustainable jet fuel. Combined with an expansion at its Singapore facility, Neste will be able to make 1.5m tons of SAF a year by the end of 2023, up from just 100,000 tons now. That compares with 300m tons of fossil fuels used in aviation each year pre-pandemic. Neste has been manufacturing biodiesel for more than a decade at its Porvoo plant, making its first investment in the renewable technology as early as 2005. After initially being unprofitable, the product overtook traditional oil products as Neste’s profit driver in 2018.<br/>