Neste, Marubeni Corporation and Resonac Corporation have entered into a cooperative agreement to enable the production of renewable olefins and derivatives.
The cooperation involves Neste RE™, a Neste-produced renewable raw material, being used to manufacture products at leading Japanese chemical company Resonac’s Oita Complex in Japan.
Marubeni, a major Japanese general trading and investment conglomerate, will coordinate all logistical arrangements from Neste to Resonac.
Renewable Neste RE is a bio-based feedstock used in steam crackers. It is made from 100% renewable raw materials such as waste and residue oils and fats.
Consisting of pure hydrocarbons, Neste RE can be used to replace conventional feedstock such as fossil naphtha in chemicals value chains, contributing to a reduction in greenhouse gas (GHG) emissions.
“Replacing fossil resources in the production of plastics is one of the major challenges the industry faces. We are excited to team up with Marubeni and Resonac in tackling this challenge. The sustainability transformation requires committed frontrunners and that is exactly what Marubeni and Resonac are,” said Carrie Song, senior vice-president, commercial, renewable products at Neste.
"We are excited to embark on a project to build the value chain for renewable chemicals, partnering with Neste, the world's leading renewable feedstock supplier, and Resonac, a leading chemical company in Japan.
“We aim to contribute to the carbon neutrality of the petrochemical industry by establishing a trade flow of diverse renewable feedstocks in addition to conventional raw materials,” added Yoshiaki Yokota, chief executive officer energy & infrastructure solution group at Marubeni.
“We are very happy to work cooperatively with Neste and Marubeni to cater to the need for renewable olefins and derivative products in the market. Resonac’s Oita Complex has been ISCC PLUS certified. The Oita Complex will continue providing the market with renewable olefins and derivative products by applying a mass balance method based on the ISCC system,” stated Hirotsugu Fukuda, general manager of the olefins & derivatives business unit at Resonac Corporation.
Neste, Marubeni and REsonac to cooperate on renewable chemicals in Japan
