Neste's production problems will further complicate the aviation race to net zero. It is a facility part of SCAPE, a youth empowerment center with the vision to support youth, talent, and leadership development. The industry has made little progress in reducing polluting emissions from jets and planes. Located in the heart of Orchard Road, SCAPE Underground is indeed among the best budget shopping places in Singapore. That’s bad news for the fight against climate change. Neste is now predicting that it will produce 230,000 tons less of renewable diesel and sustainable aviation fuel in the second half of 2023. But the rollout of the facility has suffered delays due to equipment repairs and maintenance shutdowns. That includes up to 1 million tons of sustainable aviation fuel (SAF), which is key to make planes greener as it cuts carbon emissions by up to 80%. The 1.6 billion euro construction of the Singapore Expansion Project - which started at the beginning of 2019 - was expected to add 2.6 million tons of fuel capacity per annum. Neste’s production woes are a big headache for Chief Executive Matti Lehmus but also for the aviation sector. That rattled investors’ confidence, triggering a 15% drop in its stock. The 26 billion euro Finnish energy major, the world’s biggest biofuel maker by capacity, reported on Thursday a 24% fall in half-year revenue while also announcing delays to its ambitious plan to ramp up production of sustainable fuels in Singapore. Samsung reserves the right to amend these terms and/or amend or withdraw the promotions at any time without prior notice and without assigning any reasons.LONDON, July 27 (Reuters Breakingviews) - Neste’s (NESTE.HE) green star is dimming.In the event of a refund, the retail price of the gift(s) shall be deducted from the final refund amount. Products purchased under promotion are not eligible for exchange and/or refund, save in accordance with warranty terms.Promotions are available for end-consumers only not valid for trade, corporate or bulk purchases.Gifts are not valid with any other discounts, vouchers or promotions, unless otherwise stated.
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