Neste and Ravago aim to establish a joint venture to build an industrial facility for chemical recycling in North Sea Port in Vlissingen, the Netherlands, according to the companies. The facility is intended to be the starting point of joint global chemical recycling activities, built upon the advancement of the thermochemical liquefaction technology of U.S.-based Alterra Energy, a chemical recycling technology company. Neste, a producer of renewable diesel, sustainable aviation fuel and drop-in renewable feedstocks, and Ravago, a distributor and recycler of polymers, say they plan to demonstrate and advance the commercialization of chemical recycling. The transaction is awaiting and subject to regulatory approval.
The strategic partnership reportedly combines Ravago’s expertise in the mechanical preparation of plastic waste, Alterra Energy’s proprietary liquefaction technology, and Neste’s expertise in the processing of hydrocarbons. Neste and Ravago are aiming for a first industrial chemical recycling site in North Sea Port in Vlissingen with an annual processing capacity of about 55,000 tons of mixed plastic waste, corresponding to the plastic packaging waste generated by some 1.7 million average EU citizens per year, according to the companies. The long-term aspiration is to significantly increase the processing capacity on a global scale and continuously develop the joint venture into a global leader for chemical recycling of mixed plastic waste.
“Chemical recycling has been a promising technology to accelerate the creation of a circular economy for quite a while,” says Mercedes Alonso, executive vice president, renewable polymers and chemicals at Neste. “Now, it is time to take it to the next level and turn the promise into an industrial solution.”
In 2019, Neste and Ravago set a joint target to reach the capacity to process over 200,000 tons of mixed waste plastic per year by 2030.
For more information, visit: www.neste.com