Renewable fuels and plastics company Neste has bought the rights to use Alterra Energy’s chemical recycling technology in Europe.
US company Alterra Energy already has a plant in Akron, Ohio, that uses its proprietary thermochemical solution for liquefaction of hard-to-recycle plastic.
At the industrial-sized Akron plant, it transforms end-of-life plastics into raw materials for new plastics or other petrochemical products.
Neste already owns a minority stake in Alterra Energy, which was acquired in 2020. It now plans to use the technology at its facilities in the Netherlands and Finland.
This is part of its target to process more than 1 million tonnes per year by 2030.
Neste Renewable Polymers and Chemicals vice president Heikki Färkkilä said: “Acquiring the rights to Alterra Energy’s technology in Europe enables us to offer a holistic solution to our partners.
“Neste will be able to provide the full chemical recycling package: from waste plastic to product, offering high-quality drop-in feeds for the production of new polymers and chemicals.”
Alterra Energy will continue to operate independently to license its technology around the world.