Neste doubled the amount of waste plastic processed during 2023
Neste Corporation, Press Release, 20 December 2023 at 12 p.m. (EET)
Photo: Neste’s refinery in Porvoo has successfully processed more than 6,000 tons of liquefied waste plastic so far. Source: Neste
- In total, Neste has processed more than 6,000 tons of liquefied waste plastic to date.
- The liquefied waste plastic is refined into high-quality raw materials for new plastics, contributing to a circular economy.
In its efforts to scale-up chemical recycling, Neste has successfully concluded another series of industrial-scale processing runs with increasing volumes of liquefied waste plastic at its refinery in Porvoo, Finland. The processing runs in the second half of 2023 doubled the total amount of liquefied waste plastic processed by Neste to more than 6,000 tons. For the first time the largest run in 2023 exceeded 2,000 tons of liquefied waste plastic. The output of the runs is high-quality, ISCC PLUS certified material for new plastics.
“There is an urgent need to develop solutions to curb climate emissions, while simultaneously tackling the global plastic waste challenge,” says Heikki Färkkilä, Vice President Chemical Recycling at Neste. “We are processing increasing volumes of waste plastic, which is testament to our commitment to scale up chemical recycling. At the same time, these volumes also demonstrate the commitment of our partners, suppliers and the industry as a whole: We are confident we will see chemical recycling become a commercial-scale contributor to the circularity of plastics in the upcoming years.”
Volumes to continuously increase, going forward
The current runs utilize Neste’s existing refinery equipment and pave the way for reaching capability to start continuous commercial processing. A new facility is currently being constructed at Neste’s Porvoo refinery to enable the upgrading of 150,000 tons of liquefied waste plastic each year. This first phase of Neste’s EU Innovation Fund backed PULSE project, which sees Neste investing 111 million euros, is expected to be finalized in the first half of 2025. In total, PULSE is aiming for an annual capacity to process 400,000 tons of liquefied waste plastic.
Neste is securing liquefied waste plastic supply through various suppliers. Besides contributing to the overall development of chemical recycling, processing liquefied waste plastic is helping Neste take steps towards developing its Porvoo refinery into a renewable and circular solutions site, as communicated earlier today.
Neste Corporation
Susanna Sieppi
Vice President, Communications
Further information: Please contact Neste's media service, tel. +358 800 94025 / media@neste.com (weekdays from 8.30 a.m. to 4.00 p.m. EET). Please subscribe to Neste’s releases at https://www.neste.com/for-media/releases-and-news/subscribe.
Neste in brief
Neste (NESTE, Nasdaq Helsinki) creates solutions for combating climate change and accelerating a shift to a circular economy. The company refines waste, residues and innovative raw materials into renewable fuels and sustainable feedstock for plastics and other materials.
As the world’s leading producer of sustainable aviation fuel and renewable diesel and a forerunner in developing renewable and circular feedstock solutions for polymers and chemicals, Neste helps its customers to reduce their greenhouse gas emissions by at least 20 million tons annually by 2030.
The company’s ambition is to make the Porvoo oil refinery in Finland the most sustainable refinery in Europe by 2030. Neste is committed to reaching carbon-neutral production by 2035, and will reduce the carbon emission intensity of sold products by 50% by 2040. Neste has also set high standards for biodiversity, human rights and the supply chain. The company has consistently been included in the Dow Jones Sustainability Indices and the Global 100 list of the world’s most sustainable companies. In 2022, Neste's revenue stood at EUR 25.7 billion. Read more: neste.com
