Neste and IKEA announced partnership to deliver renewable, bio-based plastics; they invited other companies to join the initiative.
The partnership includes the production of plastics and other materials utilizing Neste’s renewable solutions in polymer production. The partnership combines IKEA’s commitment to reduce its dependence on virgin fossil-based materials and Neste’s expertise in renewable solutions.
The companies aim to produce plastics and other materials that are used today, but instead replacing virgin fossil feedstock with renewable or recycled waste and residue raw materials. The companies will work with a number of partners in the supply chain. Partners are provided with an opportunity to address the growing market for bio-based products while utilizing their existing production assets.
Neste and IKEA’s target is to produce the first proof-of-concept during 2017. Furthermore, the companies expect to widen their cooperation towards new, novel technologies and other opportunities.