Fri, 9th Feb 2018 14:45
Neste Corporation Stock Exchange Release 9 February 2018 at 4.45 pm (EET)
Re-instatement of US Blender's Tax Credit for 2017 approved
On 9 February 2018, the US Blender's Tax Credit (BTC) was approved retroactively for the year 2017. In the US, qualified biofuel blenders are eligible for a Blender's Tax Credit of $1.00 per gallon of biodiesel or renewable diesel used in the blending process. The retro-active reinstatement of the BTC for 2017 will have a positive impact on Neste's comparable operating profit in the first quarter of 2018. The impact is estimated to be somewhat lower than it was in the full year 2016. The respective cash flow is expected to be received during the first half of 2018.
Neste is an active player in the US renewable fuel market. Many public and private fleets in the US have chosen to use Neste MY Renewable Diesel to reduce their carbon footprint and lower their tailpipe emissions, in order to fight climate change and improve the air quality.
Neste Corporation Kaisa LipponenDirector, Corporate Communications
Kaisa Hietala, Executive Vice President, Renewable Products, Neste, tel. +358 50 458 4128
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2017, Neste's revenue stood at EUR 13.2 billion. In 2018, Neste placed 2nd on the Global 100 list of the most sustainable companies in the world. Read more: neste.com