Neste, producer of renewable diesel, UK-based chemical recycling company ReNew ELP and Australian technology developer Licella join forces in a development project exploring the potential of using mixed waste plastic as a raw material for fuels, chemicals and new plastics. In addition to studying liquefied waste plastic feasibility and sustainability as refinery raw material, the companies are also looking to facilitate regulatory acceptance for chemical recycling. The collaboration is reportedly part of Neste’s goal of introducing liquefied waste plastic as a future raw material in fossil refining, with a target of processing more than one million tons of waste plastic annually by 2030.
ReNew ELP is building a chemical recycling plant in Teesside, UK, aiming to recycle end-of-life plastic to produce raw material for a range of petrochemical products. This reportedly will be the first commercial scale plant based on Cat-HTR technology, a catalytic hydro-thermal liquefaction platform developed by Licella over the past 10 years. The collaboration also involves Armstrong Energy, who in a joint venture with Licella are leading the financing of the Teesside facility and global deployment of the Cat-HTR technology. Although the plant construction is not included in the collaboration project with Neste, it will contribute to a common goal of enabling more efficient waste plastic utilization in the future.
“Neste has a strong legacy in refining, as well as raw material and pretreatment research, but we still need development of technologies, value chains and supporting legislation for plastic waste based products to become a reality at industrial scale,” says Matti Lehmus, executive vice president of Neste’s oil products business area. “I believe that this cooperation can accelerate the needed development and commercialization of waste plastic based products.”
Dr Len Humphreys, CEO of Licella Holdings, says,“The collaboration with Neste and ReNew ELP will help to create markets for recycled carbon fuels and chemicals at a critical time as Europe pushes towards a circular economy.”
For more information, visit: www.neste.com