Neste Oil Corporation inaugurated officially new biodiesel plant at its Porvoo refinery in Finland on Thursday.

Neste Oil Corporation has invested 100 million euros in new biodiesel plant that has been under construction for the last 18 months. Production at the new biodiesel plant will begin this summer.

The new biodiesel plant is the first of its kind to produce second-generation biodiesel based on Neste Oil's proprietary NExBTL (next generation biomass to liquid) technology. NExBTL renewable diesel is a hydrocarbon and offers better product characteristics and engine performance than first-generation biodiesels.

The new plant will be capable of producing 170,000 tons of NExBTL diesel fuel per year from a flexible mix of vegetable oil and animal fat.

Neste Oil Corporation is a refining and marketing company focused on advanced, clean traffic fuels, with a strategy that prioritizes growing its refining and premium-quality biodiesel businesses.