Neste, the world’s leading provider of renewable diesel, renewable jet fuel, and an expert in delivered drop-in renewable chemical solutions, and Ravago, the world’s leading distributor and recycler of polymers, are joining forces to develop chemical recycling of plastic waste with the aim to reach significant industrial scale.
Neste and Ravango have set a joint target to reach an annual capacity to process over 200,000 tonnes of waste plastic.
Through collaborating in chemical recycling, Neste and Ravago are aiming to accelerate circularity of materials and improve resource efficiency in the petrochemical industry.
The two companies also want to provide more sustainable alternatives to primary fossil feedstock.
Mercedes Alonso, Executive Vice President for Renewable Polymers and Chemicals at Neste, said: “Ravago’s geographical reach and expertise in plastics recycling together with Neste’s track record in upgrading challenging refinery feedstock provides an excellent foundation for demonstrating and scaling up chemical recycling with speed.”
“Collaboration also brings Neste closer to having the necessary partnerships and infrastructure to meet our Plastics Pledge target. Our aim in to process annually more than one million tonnes of plastic waste from 2030 onwards.”
“With this, we could contribute to increasing the annual recycling rate of post-consumer plastic waste by 25 per cent to 30 per cent from the current level in Europe.”
Theo Roussis, CEO of Ravago, said: “At Ravago, we carry the waste issue at heart. Our company has been mechanically recycling polymers for nearly 60 years, however chemical recycling should be part of a sustainable solution that our society requires today to address the growing need for valorising consumer waste.”
“We are proud and energised to establish this partnership with Neste, which is the leading company in the field of renewables, as it provides a solid foundation to enable the different nascent technologies to mature and the broader industry to take off.”
“We want to give a definitive answer to the plastic waste issue.”