Neste are exploring the use of plastic waste as a raw material for fuel.
Neste are the world’s leading producer of renewable diesel and are now turning to the plastic pollution crisis to become more sustainable.
Matti Lehmus, Executive Vice President of Neste’s oil products business area, said: “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.”
Neste has teamed with ReNew, a UK recycling firm, and Licella, an Australian technology developer, to develop new industrial and commercial uses for mixed plastic waste including fuel, chemicals and new plastics.
Len Humphry’s, CEO of Licella Holdings, said: “The collaboration with Neste and ReNew ELP will help to create markets for recycled carbon fuels and chemicals at a critical time as Europe pushes towards a circular economy.”
Richard Daley, Managing Director of ReNew ELP, said: “ReNew ELP is very pleased to join this collaboration with Neste. Neste’s reputation as a global leader in the production of sustainable, high quality, low-carbon products makes them an ideal development partner for us.”
Currently, 27 million tonnes per year of plastic waste is generated in Europe and only a third is collected for recycling.
Neste have already set a goal to process more than one million tonnes of plastic waste per year by 2030. In 2018, they were the 2nd most sustainable company on the global 100 list. The business has also teamed with IKEA to develop bio-plastics from raw materials such as waste fats and oils.