Neste has purchased the European rights to Alterra Energy’s liquefaction technology. Alterra Energy is a U.S. company that has developed a proprietary thermochemical solution for liquefaction of hard-to-recycle plastic. In Akron, Ohio, the company is already running a facility that transforms end-of-life plastics into an intermediate product which can be further refined.
In 2020, Neste acquired a minority stake in Alterra Energy. Neste has further processed liquefied waste plastic sourced from, among others, Alterra Energy in a series of trial runs at its refinery in Finland. Together with Ravago, Neste also plans to set up a joint venture to deploy the Alterra Energy technology in Vlissingen, the Netherlands. Furthermore, to scale up processing capacities for liquefied waste plastic at its Porvoo refinery in Finland, Neste is currently conducting a feasibility study to examine investing in proprietary pretreatment and upgrading capabilities.
With the clear target to process more than one million tons of waste plastic per annum from 2030 onwards, Neste continues engaging with companies along the plastics value chain. This includes upstream partners such as recycling companies and technology developers, but also chemicals production partners and brand owners looking for more sustainable, circular solutions.
While Neste has acquired the European rights to the technology, Alterra Energy will continue to operate independently in the rest of the world with the aim of commercializing the technology through licensing.
Published in the September 2022 Edition