Neste, the world’s leading producer of renewable diesel based in Espoo, Finland, is now exploring ways to introduce liquefied waste plastic as a future raw material for fossil refining. The aim of the development project is to proceed to industrial scale trial during 2019. The company’s target is to process annually more than one million tons of waste plastic by 2030.
Finnish Neste is focusing its raw materials research on waste plastics as a substitute for crude oil in the manufacture of oil products. The idea of “one’s waste is a valuable raw material to another” is central to the circular economy, and, for over a decade, it has inspired Neste’s development and production of renewable fuels. The company headquartered in Espoo already produces enough Neste MY Renewable Diesel, produced of waste and residues, to power more than two million cars for a year. This will enable Neste’s customers to reduce their greenhouse gas emissions by almost 7 million tons this year. Underpinning this progress is the company’s patented NEXBTL technology for refining low-quality waste fats into high-quality, fully renewable fuel. The same technology can be used to produce other renewable products also, such as renewable aviation fuel and raw material for bioplastics.