Neste, the world’s leading provider of renewable diesel, renewable jet fuel, and an expert in delivering drop-in renewable chemical solutions, and REMONDIS, one of the world’s largest privately owned recycling, service and water companies, have signed an agreement to collaborate in the development of chemical recycling of plastic waste.

The companies will focus on developing and accelerating chemical recycling with a target to reach an annual capacity to process more than 200 kilotons of waste plastic.

Mechanical recycling of plastics has been making a positive contribution to circular economy, raw material security, and climate protection for decades. Through joining forces, REMONDIS and Neste combine REMONDIS’ waste-collecting and -sorting capabilities and Neste’s experience and know-how in oil refining and processing of low-quality waste and residue materials.

The companies wish to build an ecosystem around chemical recycling to enable other companies in the value chain to join the initiative and complement mechanical recycling by closing the material circle also for those plastics that today are difficult or impossible to recycle.

Chemical recycling of plastics breaks down plastic waste into a raw material for the plastics and chemicals industries to use in the production of new high-quality plastics, chemicals and fuels.

In order to establish chemical recycling of plastics at an industrial scale, it is necessary that the recycling industry and the chemical industry work closely together. The partnership between REMONDIS and Neste will focus on creating an optimal recycling process to make even more plastics circular.

—Jürgen Ephan, Managing Director, REMONDIS Recycling

With REMONDIS among our sustainability-oriented value chain partners, we can build a chemical recycling solution to truly expand the possibilities of recycling those materials we cannot recycle today. Chemical recycling will enable us to circulate carbon in society over and over again and reduce crude oil dependence, which is one of Neste’s key targets as a sustainability leader in our industry. Collaboration between REMONDIS and Neste will bring us one step closer to fulfilling our commitment to process annually more than one million tons of waste plastic from 2030 onwards.

—Mercedes Alonso, Executive Vice President, Renewable Polymers and Chemicals, Neste