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Neste Partners with Marubeni and Resonac to Foster Renewable Chemicals in Japan
Neste Partners with Marubeni and Resonac to Foster Renewable Chemicals in Japan

Neste Partners with Marubeni and Resonac to Foster Renewable Chemicals in Japan

  • 29-May-2024 12:07 PM
  • Journalist: Patrick Knight

Neste, Marubeni Corporation, and Resonac Corporation have formed a cooperative agreement to facilitate the production of renewable olefins and their derivatives. This collaboration will utilize Neste RE™, a renewable raw material produced by Neste, in the manufacturing processes at Resonac’s Oita Complex in Japan. Marubeni, a prominent Japanese trading and investment conglomerate, will handle all logistical aspects from transporting Neste’s raw materials to Resonac’s facilities.

Neste RE is a bio-based feedstock specifically designed for use in steam crackers. It is derived entirely from renewable sources such as waste oils and residue fats. Composed of pure hydrocarbons, Neste RE can substitute conventional feedstocks like fossil naphtha in chemical production processes, thereby helping to reduce greenhouse gas (GHG) emissions.

“Replacing fossil resources in plastic production presents a major industry challenge. We are thrilled to collaborate with Marubeni and Resonac to address this issue. The sustainability transformation demands dedicated leaders, and Marubeni and Resonac exemplify this commitment,” states Carrie Song, Senior Vice President, Commercial, Renewable Products at Neste.

“We are thrilled to launch a project aimed at building the value chain for renewable chemicals, in partnership with Neste, the world's leading renewable feedstock supplier, and Resonac, a prominent Japanese chemical company. Our goal is to support the petrochemical industry's journey towards carbon neutrality by integrating a diverse range of renewable feedstocks alongside conventional raw materials,” says Yoshiaki Yokota, Chief Executive Officer of the Energy & Infrastructure Solution Group at Marubeni.

“Resonac is excited to collaborate with Neste and Marubeni to meet the market's need for renewable olefins and derivative products. The Oita Complex of Resonac, now ISCC PLUS certified, will continue to supply the market with renewable olefins and derivatives using the mass balance approach under the ISCC system,” states Hirotsugu Fukuda, General Manager of the Olefins & Derivatives Business Unit at Resonac Corporation.

Neste develops solutions to combat climate change and promote a circular economy. The company transforms waste, residues, and cutting-edge raw materials into renewable fuels and sustainable feedstock for plastics and various materials. As the global leader in sustainable aviation fuel and renewable diesel production, and a pioneer in renewable and circular feedstock solutions for polymers and chemicals, Neste helps its customers cut greenhouse gas emissions by at least 20 million tons annually by 2030. The company aims to transform its Porvoo oil refinery in Finland into the most sustainable refinery in Europe. Neste is committed to achieving carbon-neutral production by 2035 and reducing the carbon intensity of its sold products by 50% by 2040. Additionally, Neste upholds high standards for biodiversity, human rights, and supply chain integrity.

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