Neste acquires used cooking oil collection business from Crimson Renewable Energy in the United States
Neste has agreed to acquire the used cooking oil (UCO) collection and aggregation business and related assets in the United States from Crimson Renewable Energy Holdings, LLC. The transaction includes shares in SeQuential Environmental Services, LLC, and Pure, LLC, as well as a UCO processing plant in Salem, Oregon. The transaction is subject to the fulfillment of customary closing conditions and regulatory approval.
“This acquisition further strengthens Neste’s presence and operations in the United States. We continue to execute our renewables growth strategy by expanding our renewable raw materials sourcing platform to the US West Coast, which is also a location for our upcoming renewable diesel production joint operation in Martinez, California, and a key market for serving our customers. Together with Mahoney Environmental, this business will form a nationwide UCO collection and aggregation network. I look forward to welcoming the professional team and high-quality operations to contribute to Neste’s activities in North America,” says Matti Lehmus, President and CEO of Neste.
“I want to thank our SeQuential team for their invaluable efforts and contribution in building a leading UCO collection and aggregation business on the US West Coast. Joining Neste is a great opportunity for that team to develop its UCO business and operations further with a leading manufacturer of renewable fuels,” says Harry Simpson, President and CEO of Crimson Renewable Energy Holdings.
Through the transaction, Neste is acquiring a leading UCO collection and recycling business on the US West Coast, covering the collection, logistics and storage of UCO in California, Oregon and Washington. Together with the previous acquisitions of Mahoney Environmental and Agri Trading in the United States, IH Demeter in the Netherlands, and Walco Foods in Ireland, the transaction continues to enhance Neste’s global raw materials sourcing platform and support Neste’s aim to serve the customers with the growing global need for renewable products.
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