Neste acquires European rights to Alterra Energy’s thermochemical liquefaction technology
The company is already running an industrial-scale facility in Akron, Ohio, that transforms end-of-life plastics into an intermediate product, which can be further refined into raw material for new plastics and other petrochemical products.
In 2020, Neste acquired a minority stake in Alterra Energy. Neste has further processed liquefied waste plastic sourced from, among others, Alterra Energy in a series of trial runs at its refinery in Finland.
Together with Ravago, Neste also plans to set up a joint venture to deploy the Alterra Energy technology in Vlissingen, the Netherlands.
Furthermore, to scale up processing capacities for liquefied waste plastic at its Porvoo refinery in Finland, Neste is currently conducting a feasibility study to examine investing in proprietary pretreatment and upgrading capabilities. Through chemical recycling, the company aims to reduce dependence on virgin fossil resources and accelerate circularity in the production of polymers and chemicals.
“Acquiring the rights to Alterra Energy’s technology in Europe enables us to offer a holistic solution to our partners,” said Heikki Färkkilä, vice president chemical recycling at Neste Renewable Polymers and Chemicals.
“Neste will be able to provide the full chemical recycling package: from waste plastic to product, offering high-quality drop-in feeds for the production of new polymers and chemicals.”
“We are pleased that Neste, a global leader in sustainability, has chosen Alterra Energy’s advanced recycling technology to further accelerate its efforts towards circularity of plastics throughout Europe,” added Frederic Schmuck, CEO of Alterra Energy. “Throughout the rest of the world, we will continue to support petrochemical industry players in meeting their sustainability commitments to brand owners and consumers.”