Finland-headed oil refiner and renewable products major Neste Oyj has announced that it has completed its previously announced intention to acquire the used cooking oil (UCO) collection and aggregation business and related assets in the United States (US) from Crimson Renewable Energy Holdings, LLC.
In November 2022, Neste announced that it would acquire the used cooking oil (UCO) collection and aggregation business and related assets on the US West Coast from Crimson Renewable Energy Holdings, LLC.
The acquisition has been approved by regulatory authorities, and the transaction has been closed.
The acquisition includes shares in SeQuential Environmental Services, LLC, and Pure, LLC, as well as a UCO processing plant in Salem, Oregon.
Through the transaction, Neste acquired a leading UCO collection and recycling business on the US West Coast, covering the collection, logistics, and storage of UCO in California (CA), Oregon (OR), and Washington (WA).
The completion of this transaction is another important step for Neste in growing renewable and circular solutions, following our strategy. We are strengthening our presence and operations in the United States and on the US West Coast which is an important market for servicing our customers and the location for our joint venture for renewable diesel production in Martinez, California. I am happy to welcome the team to join Neste’s operations in the US, said Matti Lehmus, President and CEO of Neste.
The transaction, the value of which has not been disclosed, strengthens Neste’s global raw materials sourcing platform and supports Neste’s aim to serve its customers to meet the growing global need for renewable products.
