In 1994, Öste co-founded Oatly with his brother Björn.
[3] Another Ceba subsidiary is Aventure AB, a research company.
[3] Öste is professor emeritus in Lund University's Department of Food Technology, Engineering and Nutrition.
[4] Öste spends 20% of his time at Lund University.
[3] In 2021, Öste along with his collaborator Angeliki Triantafyllou won the Polhem Prize for their work on oat-based foodstuff.