Neste, together with Ravago, unveiled plans to establish a joint venture to implement the Alterra Energy technology in Vlissingen, the Netherlands
Finnish engineering services firm Neste has acquired the European rights to Alterra Energy’s liquefaction technology to advance the chemical recycling of plastics.
US-based Alterra Energy has developed a proprietary thermochemical solution for the liquefaction of hard-to-recycle plastic.
The company already operates an industrial-scale facility in Akron, Ohio, that converts used plastics into intermediate products for further use into raw materials for new plastics and other petrochemical goods.
Neste bought a minority stake in Alterra Energy in 2020.
In a series of test runs at its refinery in Finland, Neste has processed liquefied waste plastic obtained from Alterra Energy and other sources.
The Finnish firm, together with Ravago, unveiled plans to establish a joint venture to implement the Alterra Energy technology in Vlissingen, the Netherlands.
Neste is also carrying out a feasibility study to examine investing in pretreatment and upgrading capabilities to expand processing capacities for liquefied waste plastic at its Porvoo refinery in Finland.
The firm intends to expedite the circular manufacturing of chemicals and polymers through chemical recycling while reducing reliance on new fossil fuels.
Neste Renewable Polymers and Chemicals chemical recycling vice president Heikki Färkkilä said: “Acquiring the rights to Alterra Energy’s technology in Europe enables us to offer a holistic solution to our partners.
“Neste will be able to provide the full chemical recycling package: from waste plastic to product, offering high-quality drop-in feeds for the production of new polymers and chemicals.”
Neste said that it continues to partner with businesses along the plastics value chain to process more than one million tonnes of waste plastic annually starting in 2030.
This includes upstream partners like recycling businesses and technology developers, as well as partners in the manufacture of chemicals and brand owners searching for more circular, sustainable solutions.
As a partner and shareholder in Alterra Energy, Neste is committed to supporting the technology’s further development to become an option for chemically recycling plastic waste on a global scale.