In Finland, oil refiner and renewable fuel producer Neste Oyj and Aalto University have signed a Letter of Intent (LoI) on strategic cooperation and the creation of a new research portfolio. The aim of the cooperation is to increase Finnish chemical industry expertise in chemical engineering, bioeconomy, circular economy, and digitalization. It is also intended to support important growth areas for Neste, such as renewable products and low carbon solutions.
We are very pleased with this new kind of strategic cooperation with Aalto University. The overall purpose of the projects that the research portfolio includes is to improve the competitiveness of the Finnish chemical industry, and, indeed, of society as a whole. Finland’s undoubted strengths are highly trained professionals and a drive for research and the development of innovations. This know-how and passion for renewal are also the foundations of Neste’s success, said Matti Lievonen, President & CEO of Neste.
We and Neste will together be able to identify and solve complex challenges and to educate far-sighted specialists of the future. Aalto University and Neste have long been partners, but this strategic cooperation model and new research portfolio open the door to an entirely new kind of collaboration. We expect our cooperation to grow and expand significantly over the course of long-term endeavors, said Ilkka Niemelä, President of Aalto University.
The research portfolio projects are due to begin in the first half of 2019.