PARIS--(BUSINESS WIRE)--Regulatory News:
Technip Energies (PARIS:TE) (ISIN:NL0014559478) has been awarded two contracts(1) by Neste for work on the development of their renewables production platform in Rotterdam, the Netherlands, as part of the existing Partnership Agreement between Neste and Technip Energies.
The first contract covers Engineering, Procurement services and Construction management (EPCM) for the modification of Neste's existing renewables production refinery in Rotterdam, the Netherlands, to enable production of Sustainable Aviation Fuel (SAF). The modifications to the refinery, an investment of approximately EUR 190 million, will enable Neste to optionally produce up to 500,000 tons of SAF per annum as part of the existing capacity.
The second contract covers the Front-End Engineering and Design (FEED) for Neste's possible next world scale renewable products refinery in Rotterdam. This contract is part of Neste’s preparations to enable a final investment decision by its Board of Directors, targeted for the end of 2021 or beginning of 2022.
The production process is based on Neste’s proprietary NEXBTL state-of-the-art technology, which allows the conversion of waste and residue feedstock into renewable products like renewable diesel, Sustainable Aviation Fuel and renewable solutions for the polymers and chemical industry.
Marco Villa, Chief Operating Officer of Technip Energies, stated: “These awards reinforce our long-standing relationship with Neste, which started with the delivery of two world-scale renewable fuels units in Rotterdam and Singapore and followed up in 2018 with the Singapore Expansion project. We are proud of the partnership signed with Neste in 2019 targeting the quest for renewable fuels by means of Neste’s leading-edge technology. This confirms the commitment by both parties to contribute to the energy transition supported by today’s market trend.”
(1) The sum of these two contracts is worth between €50 million and €250 million.
To know more about Technip Energies capabilities in Biofuels:
Our engineering and end-to-end project management expertise applies directly to the biofuels market, particularly for biofuel refineries. We offer a wide range of services and proprietary and partnership-based technologies, including biodiesel and biojet production technologies as well as ethanol first- and second-generation processes. We have extensive experience in the design and construction of bioethanol plants.
Learn more: https://www.technipenergies.com/markets/biofuels
About Technip Energies
Technip Energies is a leading Engineering & Technology company for the energy transition, with leadership positions in Liquefied Natural Gas (LNG), hydrogen and ethylene as well as growing market positions in blue and green hydrogen, sustainable chemistry and CO2 management. The company benefits from its robust project delivery model supported by extensive technology, products and services offering.
Operating in 34 countries, our 15,000 people are fully committed to bringing our client’s innovative projects to life, breaking boundaries to accelerate the energy transition for a better tomorrow.
Technip Energies is listed on Euronext Paris with American depositary receipts (“ADRs”) trading over-the-counter in the United States. For further information: www.technipenergies.com.
This release is intended for informational purposes only for the shareholders of Technip Energies. This press release is not intended for distribution in jurisdictions that require prior regulatory review and authorization to distribute a press release of this nature.
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