Neste, producer of renewable diesel, is exploring ways to introduce liquefied waste plastic as a future raw material for fossil refining.
The development project aims to proceed to industrial scale trial during 2019, with the target for the company to process annually more than one million tons of waste plastic by 2030.
Using waste plastic as a raw material can increase material efficiency, reduce crude oil dependency and carbon footprint of products based on such raw material.
Chemical recycling allows for the use of waste plastics as raw material in the refining and petrochemical industries, converting it into end products such as fuels, chemicals and new plastics.
Neste says it also intends to build partnerships across the value chain, to accelerate development.
“With our strong legacy in raw material and pre-treatment research, we are in a unique position to introduce waste plastics as a new raw material for fossil refining. At the same time, we aim to provide solutions to support global plastic waste reduction,” said Matti Lehmus, Executive Vice President of Neste’s Oil Products business area.
“Circular economy is built upon joint efforts. We wish to partner with leading companies throughout the value chain, who share our sustainability values and ambition, and are ready to move forward with us.”
