Neste signs partnership to explore the use of waste plastic as a raw material
Finnish renewable diesel producer continues with its efforts to turn waste plastic into fuel.
Neste, one of the world’s leading producers of renewable diesel, UK-based chemical recycling company ReNew ELP, and Australian technology developer Licella are joining forces in a development project to explore the potential of using mixed waste plastic as a raw material for fuels.
In addition to studying liquefied waste plastic feasibility and sustainability as refinery raw material, the companies are also collaborating with the aim to facilitate regulatory acceptance for chemical recycling.
“I believe that this cooperation can accelerate the needed development and commercialization of waste plastic based products”, says Matti Lehmus, Executive Vice President of Neste’s Oil Products business area.
The collaboration is one of the steps towards Neste’s goal to introduce liquefied waste plastic as a future raw material to fossil refining, with a target to process annually more than one million ton of waste plastic by 2030.
