Biodiesel technology receives the Finnish Innovation Award

Neste Oil's NExBTL technology, which enables the production of biodiesel from vegetable oil and animal fats, has been awarded a Finnish innovation prize in the amount of 20.000 euros from the Chemical Industries Federation.

The production plant will open during the 2007 summer and will be located at the Neste Oil refinery site in Porvoo.

This technology is for the moment unique and contributes to the objectives set by the European Union, ie 5,75% of biofuels by 2010. The fuel obtained by this process can be used as is for vehicles or mixed with normal diesel. In blending, biodiesel contributes to the reduction of NOx emissions from vehicle exhausts. Neste oil is currently negotiating the construction of plants based on this technology in Austria and France.

For more information, contact:
- Website of the Finnish chemical industry: http://www.chemind.fi/home
- Neste Oil Finland website: http://www.nesteoil.com
For more information:
- Contact at Neste Oil: Jyrki Ignatius - Tel: + 358 50 458 7034
- Contact at Riitta Juvonen - Tel: + 358 9 1728 4318 or + 358 40 515 7107 -
email: riitta.juvonen@chemind.fi
Sources: Neste Oil website: http://www.nesteoil.com
Editor: Marie Aronson, scientific attaché

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