Neste and Lotte Chemical Partner for Sustainable Chemicals

Renewable Raw Materials Neste and Lotte Forge Partnership for Sustainable Plastics and Chemicals

2024-04-08 Source: Neste 1 min Reading Time

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In a move to enhance the sustainability of chemicals and plastics, Neste Corporation partners with South Korean Lotte Chemical. This strategic collaboration aims to substitute fossil resources with renewable raw materials, leveraging the Finnish company’s renewable RE.

As part of the collaboration, Neste provides renewable RE consisting of bio-based carbon.(Source: Neste) — As part of the collaboration, Neste provides renewable RE consisting of bio-based carbon.
(Source: Neste)

The Finnish company Neste and South Korean chemical corporation Lotte Chemical are teaming up to make chemicals and plastics more sustainable. The companies embark on a strategic collaboration to replace fossil resources with renewable raw materials in the manufacturing of chemicals and plastics. This will enable products and applications with a lower carbon footprint compared to those produced from fossil resources.

The collaboration will see Neste providing renewable RE, a raw material for chemicals and plastics, that is made from 100 % renewable raw materials. Lotte Chemical will use the raw material at its Korean sites to produce various common types of plastics and chemicals in its broad product portfolio. These plastics and chemicals may be used in multiple applications and in supply chains for various products ranging from packaging to construction and from textiles to electronics. According to the companies, the quality and performance of the end products remain unchanged.

With chemicals and plastics still largely depending on fossil resources, both companies see an urgent need to make a switch to more sustainable alternatives. “We are looking forward to increasing the share of renewable solutions in collaboration with Lotte Chemical,” says Jeroen Verhoeven, Vice President Value Chain Development for renewable polymers and chemicals at Neste. “Together, we can pave the way to more sustainable supply chains and lower emissions for a wide range of sectors and applications.”

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