Neste has launched a new research project which aims to develop sustainable and globally scalable raw materials and technology solutions for transportation fuels and the production of chemicals and polymers.
These new solutions will decrease the use of crude oil and tackle climate change and the new technologies will be based on scalable renewable and circular raw materials that have been difficult to utilise like forestry or agricultural residues, municipal waste, algae, waste plastics and carbon dioxide.
Neste will receive support for the project from Business Finland and will work closely with companies, research institutes and universities.
“Neste’s target is to become a global leader in renewable and circular solutions. Innovation is an important enabler to strengthen our ambitious growth strategy. Our innovation activities focus on renewing the existing businesses and developing new raw materials and technology solutions for transportation fuels as well as chemicals and polymers,” said Lars Peter Lindfors, senior vice president, innovation at Neste.
In the next few years, Neste will increase its investments in research and development as well as create new jobs in innovation in Finland to secure the company’s long-term growth targets.
Lindfors added: “We are developing waste carbon sources to substitute crude oil with a five, 10 or 20 year horizon for significant commercial scale. Lignocellulosics could potentially provide a large pool of sustainable feedstock from agricultural and forestry waste and residues. Municipal solid waste and waste plastic are also interesting raw material sources, and could be a relatively short-term solution.”
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