Germany 's Neste is set to expand its annual renewable production capacity to 4.5 million tonnes by 2020 , after announcing plans to invest € ##500 ( $ 1.6bn ) in a Singapore biofuel plant . The investment will boost Neste’s renewable production capacity to 4.5 million tonnes annually by 2022 from a current 2.7 million tonnes. The company , with a current capacity of 2.7 million tonnes , said the move was in response to " growing global market demand " for low - carbon fuels in several sectors , including transport and chemicals .
Germany 's Neste is set to expand its annual renewable production capacity to 4.5 million tonnes by 2020 , after announcing plans to invest € ##500 ( $ 1.6bn ) in a Singapore biofuel plant . The company , with a current capacity of 2.7 million tonnes , said the move was in response to " growing global market demand " for low - carbon fuels in several sectors , including transport and chemicals .