Albemarle Receives Significant Award to Supply Innovative Catalysts for World's First...

Albemarle Receives Significant Award to Supply Innovative Catalysts for
World's First Fully Commercial Renewable Diesel Production
Company awarded multi-year supply of catalyst to Neste Oil for use in Neste's
NExBTL renewable diesel process

BATON ROUGE, La., July 23 /PRNewswire-FirstCall/ -- Albemarle Corporation,
(NYSE: ALB) a global leader in specialty chemicals and sustainable clean
energy solutions, has been awarded a multi-year order from Neste Oil Oyj,
Finland (OMX Helsinki: NES1V) to produce catalysts made exclusively for Neste
for use in their NExBTL renewable diesel process.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050801/ALBEMARLELOGO )
This proprietary NExBTL process, the world's first fully commercial
renewable diesel production process, delivers an advanced fuel based on
renewable raw materials that performs more efficiently and has a lower level
of environmental impact than fossil diesel or FAME-type (fatty acid methyl
ester) biodiesel. Neste Oil and Albemarle have worked together for several
years to develop the catalysts for the NExBTL renewable diesel process.
Albemarle's multi-year order with Neste includes scheduled deliveries of the
catalysts for 2008, 2009 and 2010.
Neste Oil currently operates one NExBTL plant in Porvoo, Finland, with a
second NExBTL diesel plant under construction in Porvoo. Neste Oil is also
currently building world-scale NExBTL plants in Singapore and Rotterdam, and
has ambitious plans for further growth of NExBTL diesel business.
"Creating products that meet societal needs in a sustainable manner is our
primary focus," said Mark C. Rohr, president and chief executive officer of
Albemarle. "This latest order further demonstrates our ability to develop
state-of-the-art clean energy solutions and bring them from lab to market
quickly and effectively. Albemarle will continue to be the leading innovator
and commercial scale supplier of catalysis technology in this expanding and
important field."
"This order emphasizes the key role that innovative catalysis development
has in accelerating the rapidly evolving area of alternative fuels," said John
Kasbaum, division vice president of Albemarle's Alternative Fuel Technologies
group. "Our collaboration with Neste Oil is an example of the significant
efforts being undertaken all over the world to develop renewable fuels. We
are pleased to be contributing to this exciting technology and look forward to
our continued work with Neste Oil to help meet the world's growing clean
energy demands."
About Albemarle Corporation
Albemarle Corporation, headquartered in Baton Rouge, Louisiana, is a
leading global developer, manufacturer and marketer of highly engineered
specialty chemicals for consumer electronics; petroleum and petrochemical
processing; transportation and industrial products; pharmaceuticals;
agricultural products; and construction and packaging materials. The Company
operates in three business segments-Polymer Additives, Catalysts and Fine
Chemicals-and serves customers in approximately 100 countries. Learn more
about Albemarle at www.albemarle.com.
About Neste Oil Corporation
Neste Oil Corporation is a refining and marketing company concentrating on
low-emission, high-quality traffic fuels. The company's strategy is based on
growing both its oil refining and premium-quality renewable diesel business
with proprietary NExBTL-technology. Neste Oil's refineries are located in
Porvoo and Naantali and have a combined crude oil refining capacity of approx.
260,000 barrels a day. The company had net sales of euro 12,103 million in
2007 and it employs around 5,100 people. Neste Oil is listed on the Nordic
Stock Exchange in Helsinki. www.nesteoil.com.
About NexBTL diesel
NExBTL renewable diesel is an advanced fuel based on renewable raw
materials. It performs more efficiently and has a lower level of environmental
impact than fossil diesel or FAME-type biodiesel. Neste Oil is measuring the
environmental impacts of NExBTL renewable diesel over the whole life cycle and
it requires its raw material suppliers to apply sustainable production
processes and commit to continuous improvements of the production and
procedures. Sustainably produced feedstock ensures NExBTL diesel 40-60% lower
greenhouse gas emissions over its entire lifecycle compared to fossil diesel.
NExBTL renewable diesel can be blended with conventional diesel fuel or used
as such, and it is suitable for all diesel engines.
Neste Oil is the leader in renewable diesel production. The company's
first NExBTL facility was commissioned in Finland at Neste Oil's Porvoo
refinery in summer 2007. Second facility is due to come on stream there in
2009. They both have a capacity of 170,000 t/a. In addition Neste Oil is
building 800,000 t/a plants in Singapore and Rotterdam. Singapore facility is
due to be completed by the end of 2010 and Rotterdam facility in 2011.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this press release regarding Albemarle Corporation's
business which are not historical facts are "forward-looking statements" that
involve risks and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from those contained
in the forward-looking statements, see "Risk Factors" in the Company's Annual
Report on Form 10-K.
SOURCE Albemarle Corporation

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