04-01-2021
Neste acquires minority stake in Alterra Energy
Neste, the world’s leading provider of renewable diesel and sustainable aviation fuel and an expert in delivering drop-in renewable and circular chemical solutions, today announced that it has acquired a minority stake in Alterra Energy, an innovative chemical recycling technology company. Neste’s equity investment supports Alterra Energy’s expansion. The collaboration between the companies will include joint technology development and global technology licensing, enabling the partners to collaborate in commercializing Alterra’s proprietary thermochemical liquefaction technology in Europe.
Alterra’s technology enables a broad range of plastic waste streams from diverse post-consumer sources to be liquefied into a material similar to crude oil. Such material can be flexibly processed and upgraded by companies like Neste into high-quality feedstock for polymers and chemicals production.
The companies are working together towards a global rollout of Alterra’s liquefaction technology with a strong initial focus on Europe, a leading market in the global transition towards making plastics value chains fully circular. With this, the companies aim to accelerate the adoption of chemical recycling and develop capacity to turn hard-to-recycle plastic waste into high-quality, high-performance polymers and chemicals. The collaboration of the companies supports Alterra Energy’s target of commencing the construction of a state-of-the-art liquefaction site in Europe during 2021.
Alterra’s existing industrial-scale waste plastics liquefaction plant in Akron, Ohio produces commercial volumes that can already be refined and upgraded into high-quality feedstock for plastics and chemicals. This, together with Neste’s refining capability, enables sustainability-oriented brands globally to start introducing recycled content into their products and offerings.
“Collaboration with Alterra Energy strengthens Neste’s ecosystem of partnerships that are aimed at accelerating the transition to a circular plastics economy. It demonstrates our commitment to continue developing the chemical recycling industry by supporting some of the leading companies in commercializing promising technologies. This partnership also supports Neste’s aim of building new business growth based on chemical recycling, while marking another significant step towards our target of processing more than one million tons of plastic waste from 2030 onwards,” says Mercedes Alonso, Executive Vice President, Renewable Polymers and Chemicals at Neste.
“The Neste-Alterra partnership will unlock the full potential of the circular economy, bringing our technology to more partners around the world, creating a cleaner planet,” said Alterra’s CEO Frederic Schmuck. “Neste is a world leader in renewable and circular solutions and its endorsement of Alterra's proprietary process is both extremely rewarding and validating.”
News Category:
-
Beyond processbook & PI vision: Exploring today’s industrial analytics tools
(Webinar) - In the Manufacturing 4.0 era, industrial organizations have more data at their fingertips than ever, offering the promise of higher production rates, more ...
04-06-2024
-
MOL inaugurates its polyol complex in Tiszaújváros
MOL's EUR 1.3 billion polyol complex in Tiszaújváros, boasting a capacity of around 200,000 tonnes of polyol per year, has been inaugurated. The ceremony, addressed ...
15-05-2024
-
NEXTCHEM completes the acquisition of GasConTec
Further to the announcement made on 4 March 2024, MAIRE announces that NEXTCHEM has finalized the acquisition of 100% of GasConTec GmbH, an innovative company specialized ...
15-05-2024
-
KBR awarded digital solutions contract by OCI
KBR announced today it has been awarded a contract by OCI Global to design and deploy its proprietary operator training simulator for OCI's 3,000 metric tonnes ...
13-05-2024
-
Worley awarded Bayou Bend CCS carbon capture and storage facility contract
We’ve been selected to design and evaluate CO2 gathering, handling and sequestration facilities located along the Gulf Coast in Southeast Texas. Bayou Bend ...
13-05-2024
-
Black & Veatch delivers feasibility study for Andes Energy LNG Terminal
Global liquefied natural gas (LNG) infrastructure solutions leader Black & Veatch has completed a feasibility study for the planned Andes Energy Terminal, LNG regasification ...
09-05-2024
-
Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC
Shell Singapore Pte Ltd, a subsidiary of Shell plc, has reached an agreement to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture company ...
08-05-2024
-
Integrated Global Services recognized for role in mega turnaround
Integrated Global Services has been recognized as a major contributor to the successful Ras Tanura Refinery 2024 Mega Turnaround and Inspection for Saudi Arabian Energy ...
08-05-2024
-
Ebara Elliott Energy to provide compressor for SAF project in Thailand
Ebara Elliott Energy, formerly Elliott Group, announces it has been contracted to provide a motor-driven recycle compressor with a variable frequency drive (VFD) for ...
07-05-2024
-
ETH Zurich select hte to provide high throughput test system designed for CO2 electroreduction
hte – the high throughput experimentation company was awarded a contract by the technical university ETH Zurich to provide a high throughput test system designed for ...
07-05-2024