NIB supports Neste’s R&D investments in further development of renewable solutions

• NIB has signed a EUR 250 million 10-year loan with Neste Oyj.
• The loan will finance Neste's investments related to research and development (R&D) in processing lower-quality feedstocks into high-quality renewable products; as well as the liquefied waste plastics (LWP) investment at Neste's refinery in Porvoo, Finland.

The R&D activities supported by the loan focus on the development of renewable solutions. These include, for example, expanding feedstock capabilities and technologies that enable the processing of new and lower-quality waste and residues into high-quality renewable end products.

Part of the financing supports Neste's liquefied waste plastics investment in Porvoo, related to upgrading low-quality plastic waste into high-quality feedstock at an industrial scale. The investment contributes to advancing circular economy solutions by enabling the use of hard-to-recycle plastic waste as a replacement for virgin fossil raw materials. The unit has an annual capacity to process up to 150,000 tonnes of liquefied waste plastic. Production ramp-up commenced in 2026.

Eeva Sipilä, Neste CFO says: "Neste is the world's leading producer of renewable fuels, which help our customers reduce their greenhouse gas emissions. Innovation has been a key part of building our front-runner position, and with the support of NIB we continue to push the boundaries in treating lower-quality feedstocks to increase the availability and competitiveness of renewable solutions."

André Küüsvek, NIB President and CEO says: "By financing both R&D and industrial-scale upgrading solutions, NIB supports innovation that strengthens competitiveness, while contributing to climate and circular economy objectives. Neste's investments address two key challenges: increasing the availability of renewable feedstocks and developing technologies that make use of lower-quality waste streams."

The NIB loan consists of a EUR 150 million committed tranche and a EUR 100 million uncommitted tranche.

Neste produces renewable diesel and sustainable aviation fuel (SAF), with production on three continents. Neste also produces high-quality oil products at its Porvoo refinery in Finland. The company has a network of nearly 1,000 fuel stations with an expanding service offering, including EV charging, in Finland and in the Baltics.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody's.

Contacts

Kim Krokfors, Senior Banker, +358 10 618 0517, [email protected]

Lotta Forssell, Senior Communications Officer, +358 10 618 0498, [email protected]