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Neste acquires stake in chemical company

Alterra’s industrial-scale waste plastics liquefaction unit in Akron, Ohio
Alterra’s industrial-scale waste plastics liquefaction unit in Akron, Ohio
Neste has announced that it has acquired a minority stake in Alterra Energy, an innovative chemical recycling technology company.
Neste’s equity investment supports Alterra Energy’s expansion. Neste is the world’s leading provider of renewable diesel and sustainable aviation fuel and an expert in delivering drop-in renewable and circular chemical solutions.
The collaboration between the companies will include joint technology development and global technology licensing, enabling the partners to collaborate in commercialising Alterra’s proprietary thermochemical liquefaction technology in Europe.
The collaboration of the companies supports Alterra Energy’s target of commencing the construction of a state-of-the-art liquefaction site in Europe during 2021.
“Collaboration with Alterra Energy strengthens Neste’s ecosystem of partnerships that are aimed at accelerating the transition to a circular plastics economy. It demonstrates our commitment to continue developing the chemical recycling industry by supporting some of the leading companies in commercialising promising technologies. This partnership also supports Neste’s aim of building new business growth based on chemical recycling, while marking another significant step towards our target of processing more than one million tonnes of plastic waste from 2030 onwards,” said Mercedes Alonso, executive vice president, renewable polymers and chemicals at Neste.
“The Neste-Alterra partnership will unlock the full potential of the circular economy, bringing our technology to more partners around the world, creating a cleaner planet,” said Alterra’s CEO Frederic Schmuck. “Neste is a world leader in renewable and circular solutions and its endorsement of Alterra's proprietary process is both extremely rewarding and validating.”
Alterra’s industrial-scale waste plastics liquefaction unit in Akron, Ohio