In transportation, substantial efforts have been made to improve energy efficiency, engine technology, electric vehicles, and biofuels to decrease the use of crude oil. All possible means must be utilized to significantly decrease carbon dioxide emissions. The cars sold today will be average cars in 2030, and the electrification will take too long in the face of climate change. The advantage of liquid biofuels and synthetic fuels is that they can already be used in today's cars. In addition to liquid biofuels, electrification will be an important solution in light and short-distance transportation. In heavy and long-distance transportation, as well as in aviation, liquid and gaseous fuels will also be used in the future.
Neste is the world's largest producer of renewable diesel and aviation fuel refined from wastes and residues. Neste is continuously developing new sustainable and globally scalable raw material and technology solutions for transport fuels and for production of chemicals and polymers. All these solutions will decrease the use of crude oil and mitigate climate change.
Future fuel solutions are being developed based on sustainable raw materials and technologies that are difficult to utilize today. These are expected to be commercialized within the next five, ten, or twenty years. Production of transportation fuels from agricultural and forestry residues can be possible already in the near future. Also municipal waste and waste plastics provide interesting opportunities, which could be commercialized rather quickly. In the longer term, algae, renewable hydrogen, and Power-to-X platform, can enable manufacturing of renewable fuels and chemicals by utilizing carbon dioxide and renewable electricity.
The development of these new solutions requires establishment of new ecosystems in both research and business. New partnerships and value chains across traditional industry sectors will also be needed. Together, we can develop this field of business as a whole, reduce emissions, and contribute to solving the climate crisis.
Business Finland organized a competition where it challenged leading companies with international operations to resolve significant future challenges and increase its research, development and innovation investments in Finland. Neste is one of the winners of the challenge competition for leading companies. The winning companies have committed to creating hundreds of new research, development and innovation jobs and increasing their RDI investments by several hundred million euros in total. If successful, these projects will lead to additional investments of several billion euros in Finland. Read more