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Neste Oyj: Increasing Renewable Fuel Volumes included in US EPA's 2017 renewable volume final rule

Neste Corporation

Press Release
23 November 2016 at 11:45 pm (EET)

Increasing Renewable Fuel Volumes included in US EPA's 2017 renewable volume
final rule
The Environmental Protection Agency (EPA) in the US published the final ruling
covering renewable fuel volume requirements for 2017 under the Renewable Fuel
Standard (RFS) program on 23 November 2016. The final rule calls for further
increases in the volumes requirements above those in proposed rule published
on 18 May 2016 and includes an increased volume requirement for biomass-based
diesel for 2018.

The EPA ruling provides for increases across all types of biofuels. For 2017,
the EPA sets volume requirements of 4.28bn gallons (up from 3.61bn gallons in
2016) for advanced biofuels and 19.28bn gallons (up from 18.11bn gallons in
2016) for all renewable fuels. In addition for 2018, the Agency sets the
volume requirement for biomass-based diesel to 2.1bn gallons (up from 2.0bn
gallons). The proposal is available on theEPA's website.

"We appreciate the EPA's commitment to increasing renewable fuel volume
requirements. Determination and bold decisions are required to reduce carbon
emissions and meet the ambitious targets set in the Paris Climate agreement,"
says Kaisa Hietala, Executive Vice President of Neste's Renewable Products
business area.

"Neste Renewable Dieselis an ideal low-carbon fuel to meet the US renewable
fuel standards, as it is fully compatible with existing diesel engines and
fuel distribution systems. Neste is active in the US market and our renewable
diesel has been very well received, especially in California," continues

Neste Renewable Diesel meets the EPA requirements of an advanced biofuel in
the biomass-based diesel category and is being used by US refiners, blenders,
and fuel distributors to meet their renewable fuel requirements.
Additionally, the fuel is being used by US cities such asSan
Diego,CarlsbadandSan Franciscoas well as corporations such asGoogleandUPS.

Neste Corporation

Osmo Kammonen
SVP, Communications and Brand Marketing

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates sustainable choices for the needs of
transport, businesses and consumers. Our global range of products and
services allows customers to lower their carbon footprint by combining
high-quality renewable products and oil products to tailor-made service
solutions. We are the world's largest producer of renewable diesel refined
from waste and residues, and we are also bringing renewable solutions to the
aviation and plastics industries. We want to be a reliable partner, whose
expertise, R&D and sustainable practices are widely respected. In 2015,
Neste's net sales stood at EUR 11 billion, and we were on the Global 100 list
of the 100 most sustainable companies in the world. Read

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Neste Oyj via Globenewswire

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