6 September 2016 at 10 am. (EET)
Neste and Ikea of Sweden announce partnership to deliver renewable, bio-based plastics
Neste and IKEA have joined forces to take leadership in renewable, bio-based materials, and invite other companies to join the initiative.
The partnership includes the production of plastics and other materials utilizing Neste's renewable solutions in polymer production. The partnership combines IKEA's commitment to reduce their dependence on virgin fossil based materials and Neste's expertise in renewable solutions. The companies aim to produce plastics and other materials that are used today, but instead replacing virgin fossil feedstock with renewable or recycled waste and residue raw materials. The companies will work with a number of partners in the supply chain. Partners are provided with an opportunity to address the growing market for bio-based products while utilizing their existing production assets.
"We are very pleased to form a partnership with IKEA. IKEA's commitment to initiate a change in the industry is an extremely important step in redefining how materials will be made and how raw materials are used in the near future. IKEA and Neste, together with partners, can enable the production of bio-based plastics that are produced from waste and residues of the customers' preference and choice, can be produced with the existing production assets, are fully compatible with customers' needs, and are recyclable in the current plastics pool. We are proud to work with IKEA on the initiative", says Tuomas Hyyryläinen, SVP, Strategy and New Ventures at Neste.
"IKEA wants to contribute to a transformational change in the industry and to the development of plastics made from recycled or renewable sources. In line with our goals, we are moving away from virgin fossil-based plastic materials in favor of plastic produced from more sustainable recycled or renewable sources such as waste and residues, not using palm oil and it's derivatives as feedstock", says Lena Pripp-Kovac, Sustainability Manager, at IKEA of Sweden.
"We believe that working with Neste will open up an important pathway towards industrializing the production of plastics from more sustainable feedstock", says Camilla Rööst, Material and Innovation Development Manager, at IKEA.
The companies invite others to join the initiative. Neste and IKEA's target is to produce the first proof-of-concept during 2017.
Furthermore, the companies expect to widen their cooperation towards new, novel technologies and other opportunities.
IKEA wants to have a positive impact on people and planet, which includes taking a lead in turning waste into resources, developing reverse material flows for waste materials and ensuring key parts of IKEA's range are easily recycled. IKEA's long-term ambition is for the plastic material used in their home furnishing products to be renewable or recycled material. The company is starting with their home furnishing plastic products, representing about 40% of the total plastic volume used in the IKEA range.
SVP, Communications and Brand Marketing
Tuomas Hyyryläinen, SVP, Strategy and New Ventures, Neste, tel. +358 10 4588880
Camilla Rööst, Material and Innovation Development Manager, Ikea, tel. +46 721937004
Lena Pripp-Kovac, Sustainability Manager, Ikea, tel. +46 732321349
Neste is a pioneer in oil refining and renewable solutions. We provide our customers with premium-quality products for cleaner traffic and industrial products based on world-class research. We are the world's leading producer of renewable diesel, and our annual production capacity is more than 2 million tons. We also are the world's largest company providing renewable fuel from waste and residues. Our sustainable operations have received recognition in the Dow Jones Sustainability World Index and the Global 100 list of the world's most sustainable companies, among others. Our net sales for 2015 amounted to approximately EUR 11 billion, and our shares are listed on NASDAQ Helsinki. Cleaner traffic, energy and life are moved forward by about 5,000 professionals. More information: neste.com/en
About IKEA Group
Our vision is to create a better everyday life for everyone and we offer well designed, functional and affordable, high quality home furnishing, produced with care for people and the environment. The IKEA Group has 340 stores in 28 countries. In addition, there are around 50 stores run by franchisees outside the IKEA Group. The IKEA Group had 771 million visits during FY15 and 1.9 billion people visited IKEA.com