Neste Oil signs algae oil off-take deal with Cellana

Finland-based Neste Oil, the world’s largest producer of renewable diesel, has signed a contingent commercial off-take agreement with Cellana, an algae biomass developer based in San Diego, with production facilities in Hawaii. The agreement will enable Neste Oil to purchase Cellana’s algae oil for use as a feedstock in the future for producing renewable fuel. The agreement is contingent on Cellana’s future production capacity and on compliance with future biofuel legislation in the EU and US, among other factors.

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