Neste explores the use of waste plastic as a raw material for new plastics and has started a development project targeting to use liquefied waste plastic as a raw material in its fossil refinery.
The aim is to proceed to an industrial scale trial in the upcoming months. By 2030, Neste targets to develop chemical recycling capacity 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. Now our target is to become a solutions provider in chemical recycling and a global leader and preferred partner as a provider of sustainable renewable and circular solutions for forerunner brands wishing to reduce crude oil dependency, to tackle climate change and global plastic waste challenge.
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 the chemical industry where it can be upgraded to new plastics.
- Neste and Mirova back Recycling Technologies to accelerate transition to circular economy for plastic
- Neste and Ravago start collaboration to enable chemical recycling of over 200,000 tons of plastic waste annually
- REMONDIS and Neste into partnership to develop chemical recycling of plastic waste
- Blog: Turning plastics problem into a solution requires economically attractive recycling
- Blog: Going fully plastic free is not realistic
- Neste, ReNew ELP and Licella to collaborate in utilization of waste plastic as a raw material
- Solutions to plastic waste challenge: We are exploring ways to introduce liquefied waste plastic as a future raw material for fossil refining
- Neste is also working in the area of bio-based plastics