Neste and Ravago plan chemical recycling of plastic waste in North Sea Port
Neste and Ravago are planning to build an industrial plant for chemical recycling at North Sea Port in Vlissingen. It will have an annual processing capacity of about 55,000 tons of mixed plastic waste. This is equivalent to the plastic packaging waste generated annually by about 1.7 million EU citizens. The partners' long-term goal is to significantly increase processing capacity on a global scale and to continuously develop the joint venture into a world leader in the chemical recycling of mixed plastic waste.
Combining expertise across the value chain
The plant is intended to be the starting point for joint worldwide activities in the field of chemical recycling (often referred to as "advanced recycling"). It builds on the thermochemical liquefaction technology of US-based Alterra Energy, an innovative company in the field of chemical recycling technology. Neste and Ravago will use it to demonstrate and promote the commercialisation of chemical recycling. The transaction is awaiting regulatory approval.
Neste is the world's largest producer of renewable diesel, renewable aviation fuel and drop-in renewable feedstocks and solutions for the chemical industry. Ravago is the largest distributor and recycler of polymers in the world.
"We are really delighted with the progress of our joint project activities. By agreeing on the investment location and size we are one step closer to achieving our dream", says Theo Roussis, CEO of Ravago.
"Chemical recycling has long been a promising technology for accelerating the creation of a circular economy," says Mercedes Alonso, Executive Vice President, Renewable Polymers and Chemicals at Neste. "Our ambition is clear: to become the world leader in renewable and circular solutions.
In 2019, Neste and Ravago set themselves the joint target of building the capacity to process more than 200,000 tons of mixed plastic waste per year by 2030.