Finland – The company’s initiatives to advance chemical recycling have been strengthened by Neste’s acquisition of the European rights to Alterra Energy’s liquefaction technology.
A US-based business called Alterra Energy has created a unique thermochemical method for liquefying plastic that is difficult to recycle. The business already operates an industrial-scale facility in Akron, Ohio, that converts used plastics into intermediate products that can then be further processed into raw materials for new plastics and other petrochemical goods.
Alterra Energy’s minority ownership was acquired by Neste in 2020. In a series of test runs at its refinery in Finland, Neste has further processed liquefied waste plastic obtained from sources such as Alterra Energy. In order to implement the Alterra Energy technology in Vlissingen, the Netherlands, Ravago and Neste intend to establish a joint venture. Additionally, Neste is presently conducting a feasibility study to investigate investing in exclusive pretreatment and upgrading capabilities in order to scale up processing capacities for liquefied waste plastic at its Porvoo refinery in Finland. The company wants to accelerate circularity in the production of chemicals and polymers through chemical recycling while reducing its reliance on new fossil fuels.
Value chain
Neste continues to work with businesses along the plastics value chain with the clear goal of processing more than one million tons of waste plastic annually starting in 2030. This includes upstream partners like recycling businesses and technology developers, as well as partners in the production of chemicals and brand owners searching for more circular, sustainable solutions.
The continued processing of mixed plastic feeds in the Akron facility and the ongoing joint technology development between Neste and Alterra Energy have given Neste confidence that the Alterra Energy technology is one of the most effective methods for the liquefaction of waste plastic material.
Alterra Energy will carry on independently in the rest of the world while Neste has acquired the European rights to the technology with the intention of commercializing it through licensing. As a partner and shareholder in Alterra Energy, Neste is dedicated to supporting the technology’s ongoing development so that it can become one of the top options for chemically recycling plastic waste on a global scale.
