Neste aiming to use waste plastic as a raw material for fuels
Neste is now exploring ways to introduce liquefied waste plastic as a future raw material for fossil refining.
The aim of the development project is to proceed to industrial scale trial during 2019. The company’s target is to process annually more than one million tons of waste plastic by 2030.
"Neste has been ranked the world's second most sustainable company and we are already the world's largest producer of renewable diesel from waste and residues. Our target is to also be a leader in low-carbon refining and support circular economy by developing innovative solutions based on waste plastic," says Matti Lehmus, Executive Vice President of Neste’s Oil Products business area.
Using waste plastic as a raw material increases material efficiency, reduces crude oil dependency and carbon footprint of products based on such raw material, according to the Finnish company.
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.
