Neste sets ambitious waste plastic targets

Finnish renewable diesel producer Neste is exploring ways to introduce liquefied waste plastics as a raw material for fuels and plastics, according to a statement.

The company has ambitious goals for the project, aiming to proceed to industrial scale trial during 2019. Longer term, Neste’s target is to process annually more than one million tonnes of waste plastic by 2030.

"Neste has been ranked the world's second most sustainable company and we are already the world's largest producer of renewable diesel from waste and residues. Our target is to also be a leader in low-carbon refining and support circular economy by developing innovative solutions based on waste plastic," says Matti Lehmus, Executive Vice President of Neste’s Oil Products business area.

A key objective of the 2018 EU Strategy for Plastics in a Circular Economy is to increase recycling of plastics and reuse of plastic packaging by 2030.

Currently, Neste is looking for partners in the waste plastic value chain to accelerate the development to industrial scale.

“Circular economy is built upon joint efforts,” says Lehmus. “We wish to partner with leading companies throughout the value chain, who share our sustainability values and ambition, and are ready to move forward with us.”