Finland-headed oil refiner and renewable products major Neste Oyj is further accelerating the implementation of its growth strategy by establishing an R&D center in Singapore. With this investment, Neste aims to increase its R&D and innovation capabilities globally, and drive collaboration with partners in the Asia-Pacific region, especially in Singapore.
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According to a statement, the Asia-Pacific R&D center will complement Neste’s already extensive efforts in the area of innovation and R&D and strengthen Neste’s presence in the Asia-Pacific innovation network.
Neste is currently increasing the production capacity of the Singapore refinery by up to 1.3 million tonnes annually, operational in early 2023. Establishing our new R&D center in Singapore with advanced analytical and raw material research capabilities serves well to drive our growth ambitions in the region and supports our largest renewable products refinery locally, said Lars Peter Lindfors, SVP of Innovation at Neste.
The R&D center will be located in Science Park II in the west part of Singapore. Approximately 40 researchers and other professionals will be hired gradually from 2022 to 2025 to the R&D center, which will be fully operational from 2023 onwards.
Neste’s main R&D facilities continue to be located in its Technology Center in Porvoo, Finland, where nearly 1 100 employees work in research and development, as well as engineering.
We continue to diversify our renewable raw material portfolio with new types of raw materials, while we also expand the availability of those raw materials we already use. We source our raw materials globally, also in the Asia-Pacific region. Different waste and residues currently account for over 90 percent of our renewable raw material inputs globally. With our own proprietary NEXBTL refining technology, a variety of renewable products can be refined flexibly even from low-quality raw materials, while the end-products retain their high quality. Neste’s products serve the growing global demand for lower-emission alternatives in the transport, aviation, as well as polymers and chemicals sectors, Lars Peter Lindfors said.
Neste invests the majority of its annual innovation expenditure to research and to test future raw materials as well as technologies enabling their use. Neste continues to increase the volume of its research, development, and innovation operations also in Finland.
