The NEXBTL technology, which is owned by Neste, enables the conversion of second-generation feedstock into renewable diesel and other renewable products
TechnipFMC partners with Neste for NEXBTL technology-based projects. (Credit: TechnipFMC plc.)
UK-based oil and gas company TechnipFMC has partnered with Neste, a Finnish oil refining and marketing company, for NEXBTL technology-based projects.
Under the terms of the deal, TechnipFMC will be responsible for providing front-end loading (FEL) services that include concept feasibility, pre-front end engineering and design and FEED studies, for future Neste NEXBTL projects.
The NEXBTL technology, which is owned by Neste, enables the conversion of second-generation feedstock like vegetable oil or waste fat into renewable diesel and other renewable products.
The technology is said to provide efficient and sustainable solution for the fuels sector and also addresses environmental concerns.
It also enables the production of renewable diesel which helps the users to reduce CO2 emissions by about 90% over the lifecycle of the fuel compared to conventional fossil diesel.
TechnipFMC will also participate in future NEXBTL projects
Neste CEO and president Peter Vanacker said: “Neste has transformed from a regional oil refining company into a global leader in renewable solutions. The transportation of people and goods is undergoing a rapid change. To combat climate change the world needs new and more solutions for decreasing emissions.
“We are confident that in working closely together, the design and execution expertise of TechnipFMC will significantly further enhance the robustness of our NEXBTL technology as we grow our business where our strength lies.”
Under the partnership agreement, TechnipFMC will also participate in future NEXBTL projects during their execution phase.
In November last year, renewable diesel provider Neste partnered with Ravago to develop chemical recycling of plastic waste. The two company had set a joint target to reach an annual capacity to process over 200,000 tonnes of waste plastic.
Through the collaboration, Neste and Ravago intend to accelerate circularity of materials and improve resource-efficiency in the petrochemical industry.