Neste's corporate headquarters. Photographer: Tomi Parkkonen (2015)
Finnish refiner and renewable fuels producer Neste Oyj (HEL:NESTE) is bolstering its biodiesel offering in Japan after promoting local general trader Itochu Corp (TYO:8001) to an official distributor of Neste MY Renewable Diesel in the country.
The two companies have extended their partnership with a licensing agreement with the enhanced collaboration now focused not only on selling but also promoting the use of more sustainable fuels, a press release said on Monday.
With the new agreement, the availability of Neste’s biodiesel will be expanded in the local market, including the Osaka region where it will be supplied to the construction site of the Osaka-Kansai Japan Expo which is scheduled to take place in 2025.
The extended collaboration builds upon the existing partnership between Neste and Itochu to supply renewable diesel to selected customers in Japan which was started in 2021.
Neste is also partnering with Itochu to supply its sustainable aviation fuel (SAF) to the Asian country, currently making it available at Haneda, Narita and Chubu International Airports.