Neste and Alterra to establish a circular chain for plastic
Neste has recently acquired a minority stake in Alterra Energy, which has developed proprietary plastic waste recycling technology.
Neste is an oil refining and marketing company established in Finland, that are pioneers in producing renewable diesel and aviation fuel, which places them as world leaders in circular solutions.
Alterra's thermochemical liquefaction technology recycles plastic waste into a flexible petrochemical product that can be used as high-quality feedstock for polymer and chemical production.
The collaboration will result in joint technology development and licensing of the technology globally which will assist the use of technology for commercial purposes across Europe, which will enable ‘sustainable-brands’ to use recycled contents in their products.
Neste aims to recycle and process 1 million tonnes of plastic waste per year from 2030, with this partnership.
Active collaboration and participation by industry leaders are essential in setting in motion the establishment of a circular economy in waste management.
At Recykal, we provide the required platform and tools to enable businesses and recyclers to collaborate and partner in establishing a robust recycling system.