Neste focuses on efficient utilization of raw materials from waste and residue streams to reduce fossil oil dependency and related climate emissions, as well as to accelerate circularity. Neste aims to introduce liquefied waste plastic as a new raw material to be used in its fossil oil refinery. We plan to refine liquefied plastic waste into high-quality drop-in raw material for the production of new plastics. We are preparing to conduct an industrial scale trial in the upcoming months.
Neste has established several partnerships to develop recycling of plastic waste, particularly chemical recycling technologies and capacity. Chemical recycling means converting plastic waste back into high-quality raw material for the petrochemical industry. We aim to become a significant solution provider for chemical recycling and have set a target to process annually over 1 million tons of waste plastic from 2030 onwards.
We focus on post-consumer plastic waste, e.g. colored, multimaterial, multilayer packaging waste that currently cannot be recycled mechanically. This supports global efforts to reduce plastic waste, and provides the means to reduce crude oil dependency in the production of new plastics. By providing plastics waste a high-value outlet, a new life, Neste helps reduce the need to direct these material streams to landfills and incineration, while it also helps prevent littering of the environment.
Read more about how we are combating plastic pollution and developing chemical recycling of plastic waste.