Neste and Hightowers Forge Partnership on Renewable Diesel — OPIS

U.S. marketer Hightowers Petroleum Co. has entered into a partnership with Neste to offer Neste MY renewable diesel to customers in Midwestern markets.

Hightowers has seen strong demand for fuels with a lower carbon footprint particularly in businesses tied to the automotive industry. Neste's renewable diesel is touted as reducing GHG emissions by up to 75% when compared with traditional diesel. A number of companies are interested in the product as they attempt to reduce their carbon footprint.

"We serve customers who demand the highest quality of fuel, but also are making an effort to reduce their carbon footprint," noted Stephen Hightower, the company's president and chief executive officer.

Neste has partnered with numerous fuel distributors in the U.S. to create a renewable diesel distribution and marketing network. The company was one of the first providers of the fuel in California and the Pacific Northwest.

California attracts most of the North American production of renewable diesel with regulatory givebacks tied to the Low Carbon Fuel Standard. However, numerous companies in and out of the Fortune 500 have looked for the fuel in markets that do not have an LCFS program.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

--Reporting by Tom Kloza, tkloza@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

(END) Dow Jones Newswires

November 21, 2023 12:27 ET (17:27 GMT)

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