Neste to acquire animal fat trader IH Demeter B.V. to produce biofuels

Neste, a producer of renewable fuels from waste and residues, has acquired 51% of the shares in IH Demeter B.V., a trader of animal fats and proteins.

The move follows Neste’s strategy to secure sufficient raw material sources to serve the growing demand for biodiesel.

“IH Demeter B.V. has a long history, and a solid track record of cooperating with Neste. With an efficient European-wide logistical setup, the company is well positioned to serve Neste in delivering future raw material volumes to our renewable product refineries,” says Kaisa Hietala, Executive Vice President of Renewable Products business area of Neste.

The new company is planned to be called Neste Demeter B.V. with the purchase price remaining unknown.

“We are proud of our raw material sourcing know-how and our capability of managing logistics of animal fats and proteins,” says Floris Ebeli of IH Demeter B.V.

Neste is the world's largest producer of renewable diesel refined from waste and residues.