Renewable diesel producer Neste is now investigating ways to introduce liquefied waste plastic as a future feedstock for refining fossil fuels. The goal of the development project is to proceed to industrial-scale testing over the course of 2019 and to process more than one million tonnes of waste plastic annually by 2030.
Using waste plastic as a raw material increases the efficiency of the material, reduces dependence on crude oil, and reduces the carbon footprint of any by-product, something the Helsinki, Finland-based company strongly supports.
“Neste has been ranked the second most sustainable company in the world and we are already the world’s largest producer of renewable diesel from waste and waste. Our goal is also to be a leader in low carbon refining and a supporting circular economy. developing innovative solutions based on plastic waste, “says Matti Lehmus, executive vice president of business for Neste’s Oil Products.
With around 27 million tonnes of post-consumer plastic waste generated annually in Europe alone, and only a third of this is currently being collected for recycling, there is great room for improvement. Additionally, the EU has set a recycling target for plastic packaging of 50% by 2025 and 55% by 2030.
“To achieve the EU’s ambitious plastics recycling targets, both chemical and mechanical recycling must be recognized in EU regulation,” says Matti Lehmus.
Chemical recycling can create new outlets for plastic waste by enabling high-quality product qualities, thus complementing traditional mechanical recycling, but requires the development of technologies and value chains. To accelerate this development, Neste is seeking partners throughout the value chain.
The company is also exploring alternatives to fossil-based plastics and has been working on the production of durable and recyclable renewable plastics from bio-based raw materials such as residual fats and oils. Earlier this year, Neste and IKEA announced that commercial-scale production of bio-based PP will begin in the fall of 2018, a world first.
