Neste is partnering with Japan’s Mitsubishi Corporation to develop a supply chain for renewable plastics and chemicals in the country.
The Finish refiner will supply Japanese brands in industries such as food and beverage, apparel, and consumer electronics with its renewable feedstock Neste RE for the production of circular plastics. Mitsubishi Corporation, in turn, will contribute its experience in business development and supply chain management of petrochemical products and derivatives in the region.
“Through this partnership, we will be able to provide sustainability-minded companies in Japan with a full package to reduce their plastics-related GHG emissions,” said Carrie Song, senior vice president, commercial at Neste Renewable Products. “Together, we can also get the materials into the value chains, making it easier for companies to make the switch to more sustainable solutions.”
The companies have already cooperated on several projects in the past, including a collaboration with Eneos to enable the production of renewable PET bottles for Suntory, as well as a multi-party collaboration to produce polyester from bio-based materials for The North Face apparel brand in Japan.
Neste has also been expanding its client base in Japan and Asia more broadly. This year, it announced supply deals with Japan’s Resonac Corporation and South Korea’s Lotte Chemical.
Neste produces Neste RE from renewable waste, residue oils and fats, as well as waste plastics.
To produce renewable Neste RE, Neste uses its proprietary NEXBTL (“Next generation biomass to liquid”) technology, which turns bio-based oils and fats into pure hydrocarbons - fuels or feedstock for plastics production.