Neste has acquired European rights to Alterra Energy’s liquefaction technology. Alterra Energy has developed a proprietary thermochemical solution for liquefying hard-to-recycle plastics. In Akron, OH, USA, the company operates a commercial-scale facility that converts end-of-life plastics into an intermediate product that can be further processed into raw material for new plastics and other petrochemical products. Alterra Energy uses a scalable, patented thermochemical liquefaction technology to process and recycle plastic waste that would otherwise end up in landfills.
In 2020, Neste acquired a minority stake in Alterra Energy. Neste has further processed liquefied plastic waste sourced from Alterra Energy and others in a series of test runs at its refinery in Finland. Together with the plastic producing company Ravago, Neste also plans to set up a joint venture to use Alterra Energy technology in Vlissingen, the Netherlands. To increase processing capacity for liquefied plastic waste at its Porvoo refinery in Finland, Neste is currently conducting a feasibility study to assess investments in its own pretreatment and upgrading facilities. Through chemical recycling, the company aims to reduce dependence on virgin fossil resources and accelerate the circular economy in the production of polymers and chemicals.
While Neste has acquired the European rights to the technology, Alterra Energy will continue to operate independently in the rest of the world to commercialize the technology through licensing. As a partner and shareholder, Neste is committed to supporting the continuous development of Alterra Energy’s technology and establishing it as one of the leading solutions in chemical recycling of plastic waste on a global level.