In a recent announcement made by Neste and Ravago it was revealed that the companies will be joining hands for a major chemical recycling joint venture in Netherlands. The facility is targeted to be the starting point of the companies’ joint global chemical recycling activities. The technology for the chemical recycling facility will be based on thermochemical liquefaction technology of the USA based Alterra Energy which is an innovative chemical recycling company.
The strategic partnership will be combining Ravago’s expertise in the mechanical preparation of plastic waste and Alterra Energy’s proprietary liquefaction technology coupled with the Neste’s expertise in the processing of hydrocarbons. Both the companies are aiming for a chemical recycling facility in North Sea port in Vlissingen. The annual production capacity of the proposed chemical recycling facility is being said to be about 55 kilotons of plastic waste.
The long term plan of both the chemical majors is to significantly raise the processing capacity of plastic waste on the global scale and to continuously develop the newly made joint venture into a global leader for chemical recycling of mixed plastic waste.
Neste is one of global leaders in the production of renewable diesel, sustainable aviation fuel, and drop in renewable feedstocks, and chemical solutions for polymers and chemicals industry. Ravago is one of the leading distributors and recyclers of polymers.
As per ChemAnalyst, “the proposed joint venture between Neste and Ravago for the development of a chemical recycling joint venture is aimed at capturing the increasing demand for recycled polymers and sustainable chemical solutions. With the rising plastic consumption in Europe and increasing government support for sustainability, both the companies are positioned to benefit from the joint venture with the synergies arising out of the joint efforts of both the companies.”