Neste has recently acquired a minority stake in Alterra Energy, which has developed proprietary plastic waste recycling technology. This is the beginning of two international brands setting up the foundation for a circular chain of plastic.
Neste is an oil refining and marketing company established in Finland, that are pioneers in producing renewable diesel and aviation fuel, which places them as world leaders in circular solutions.
Alterra’s thermochemical liquefaction technology recycles plastic waste into a flexible petrochemical product that can be used as high-quality feedstock for polymer and chemical production.
The collaboration will result in joint technology development and licensing of the technology globally which will assist the use of technology for commercial purposes across Europe, which will enable sustainable brands to use recycled contents in their products.
Neste aims to recycle and process 1 million tonnes of plastic waste per year from 2030, with this partnership.
Turning plastic to fuel to curb plastic pollution is a step towards a sustainable future and a much-needed solution for today’s world.
Active collaboration and participation by industry leaders are essential in setting in motion the establishment of a circular chain of plastic in waste management ecosystem.
At Recykal, we provide the required platform and tools to enable businesses and recyclers to collaborate and partner in establishing a robust recycling system.