Neste strengthens its research expertise – establishes innovation center in Singapore

Neste has opened a new innovation center in Singapore, where the company aims to strengthen its research and development capabilities globally.

Asia has become an important market for Neste. The company has a refinery in Singapore that manufactures renewable products.

“Innovation has enabled our transformation from a regional oil refiner to a global leader in renewables and circular solutions,” says Neste’s Chief Innovation Officer. Lars Peter Lindfors.

“We are delighted to open an innovation hub that will provide a framework for world-class raw materials research and support growth in the Asia-Pacific region, with a key element being our expanding renewables refinery in Singapore.”

The refinery expansion work is scheduled to start by the end of the first quarter of 2023.

Focus on research into raw materials and pre-processing

The Singapore Innovation Center focuses on research into raw materials and pre-processing processes. The center employs more than 20 researchers and other professionals.

The center complements Neste's global innovation work, which maps new business opportunities created by scalable future raw materials and related technologies.

Approximately 25 percent of Neste's employees work in innovation, research, product development and design. The cornerstone of the company is the Porvoo Technology Center, which employs over a thousand professionals.

Neste's research and development expenses in 2022 totaled EUR 85 million.

Text: Päivi Ikonen/ Kemiamedia.fi

Photo: Neste. The new innovation center was opened with ceremonial opening ceremonies on February 15, 2023.