Neste Corporation, Press Release, 21 August 2023 at 9.00 a.m. (EET)
Photo: Renewable Neste RE consists of pure hydrocarbons made from bio-based raw materials and can be used as a drop-in solution to replace fossil feedstock in the making of polymers and chemicals. Source: Neste.
- Cooperation marks the first time renewable Neste RE is used for production of PET, one of the most commonly used polymers for drinking bottles
- Introduction of bio-based materials will reduce fossil resource dependence in the PET value chain
Neste has entered a cooperation with Suntory, ENEOS and Mitsubishi Corporation to enable the production of PET (Polyethylene Terephthalate) resin made with renewable Neste RE™ on a commercial scale. Neste RE is Neste’s feedstock for polymers production, made 100% from bio-based raw materials such as waste and residues, e.g. used cooking oil, to replace fossil feedstock in the value chain. Japanese beverage company Suntory will utilize the renewable PET resin to produce bottles for its products in 2024.
A new partner for Neste in Japan, ENEOS will use bio-intermediates based on Neste RE to produce bio-PX (Bio-Paraxylene) at its Mizushima Refinery in Okayama, Japan. The bio-PX will then be converted to PTA (Purified Terephthalic Acid) and subsequently to PET resin for Suntory to use to manufacture their PET bottles. Mitsubishi Corporation will be coordinating the collaboration between the value chain partners.
“In order to tackle the imminent climate crisis and its consequences, companies are required to take responsibility now. Through partnering along the value chain, Neste can contribute to reducing the polymers and chemicals industry’s dependence on fossil resources as well as to manufacturing of products that have a lower carbon footprint,” says Lilyana Budyanto, Head of Sustainable Partnerships APAC at Neste Renewable Polymers and Chemicals business unit.
A mass balancing approach will be applied to allocate the bio-based materials to the PET bottles.
Vice President, Communications
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Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. We refine waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials. We are the world’s leading producer of sustainable aviation fuel and renewable diesel and developing chemical recycling to combat the plastic waste challenge. We aim at helping customers to reduce their greenhouse gas emissions with our renewable and circular solutions by at least 20 million tons annually by 2030. Our ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. We are introducing renewable and recycled raw materials such as liquefied waste plastic as refinery raw materials. We are committed to reaching carbon-neutral production by 2035, and we will reduce the carbon emission intensity of sold products by 50% by 2040. We have also set high standards for biodiversity, human rights and supply chain. We have consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2022, Neste's revenue stood at EUR 25.7 billion. Read more: neste.com