Neste explores the use of waste plastic as a raw material for fuels, chemicals and new plastics. Neste has started a development project targeting to use liquefied waste plastic as a raw material for its fossil refinery.
The aim is to proceed to an industrial scale trial during 2019. By 2030, Neste targets to process more than one million tons of plastic waste annually by 2030.
Neste is already the world's largest producer of renewable diesel from waste and residues and now it’s target is to be a leader also in low-carbon refining and support circular economy by providing innovative solutions based on waste plastic.
With a strong legacy in raw material and pretreatment research, Neste is in a unique position to introduce waste plastics as a new raw material in its fossil refinery. At the same time, Neste can provide solutions to support global plastic waste reduction.
Chemical recycling set to raise recycling rate
In Europe, some 27 million tons of post-consumer plastic waste is generated annually. Only about one third of this amount is currently collected for recycling.
In January 2018, the European Union released its Strategy for Plastics in a Circular Economy. One of its objectives is to increase recycling of plastic and reuse of plastic packaging by 2030. In the EU Waste package, recycling target for plastic packaging was raised to 50% by 2025 and 55% by 2030.
Chemical recycling means converting plastics into raw material for the chemical industry. Liquefied waste plastic can be used as a replacement for crude oil for chemical industry where it can be upgraded to fuels, chemicals and new plastics.
Going fully plastic free is not realistic