06 June 2013 14:22 [Source: ICIS news]
HOUSTON (ICIS)--US bio-products firm Cellana has agreed to supply algae oil to Finland’s refining major Neste Oil, the companies said on Thursday.
Cellana expects to begin producing algae oil on a commercial scale from late 2015 onwards. Neste plans to use Cellana's algae oil as a feedstock for renewable fuels.
The supply agreement is contingent on Cellana's future production capacity and on compliance with biofuel legislation in the EU and US, among other factors.
"The offtake agreement with Cellana allows us access to commercial-scale volumes of cost-competitive algae oil in the future," said Lars Peter Lindfors, Neste Oil's senior vice president, technology.
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