Cycle for strapping bands
Disposal company Re-strap and Teufelberger have concluded a long-term agreement for the return of used plastic strapping.
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Neste and Ravago intend to establish a joint venture for the construction of a chemical recycling plant at North Sea Port in Vlissingen, the Netherlands. The plant will be the starting point for joint global activities in the field of chemical recycling and will be based on the further development of the thermochemical liquefaction technology of the US-based company Alterra Energy.
The aim of this project is to Nests - one of the world's leading producers of renewable diesel fuel, sustainable aviation fuel and renewable raw materials and solutions for the polymer and chemical industries - and Ravago - one of the world's leading distributors and recyclers of polymers - the Commercial use of chemical recycling and drive it forward. The necessary regulatory approval for the transaction is still expected.
Bundled expertise along the entire value chain
The strategic partnership combines Ravago's expertise in the mechanical processing of plastic waste, Alterra Energy's liquefaction technology and Neste's know-how in the processing of hydrocarbons. Neste and Ravago aim to build a first industrial plant for chemical recycling at the North Sea Port in Vlissingen with an annual processing capacity of around 55,000 tonnes of mixed plastic waste is produced. This corresponds to the amount of plastic packaging waste generated by around 1.7 million average EU citizens per year.
The partners' long-term goal is the significant increase in processing capacity at a global level and the continuous development of the joint venture into a global leader in the chemical recycling of mixed plastic waste. „We are extremely pleased with the progress of our joint project. Determining the location and scope of the investment brings us another step closer to realising our dream,“ says Theo Roussis, CEO of Ravago. „Together with Neste, we have the necessary ingredients for a recipe for success in creating scalable solutions that convert non-recyclable waste streams into valuable end products.“
„Chemical recycling has been considered a promising option for some time now. Technology to accelerate the development of a circular economy” says Mercedes Alonso, Executive Vice President Renewable Polymers and Chemicals at Neste. „Now is the time to take it to the next level and turn this promise into an industrial solution. The combination of Ravago's and Neste's expertise will allow us to rapidly implement the technology and start production on a commercial scale. Together and in a targeted manner, we can bundle expertise along the entire value chain to turn waste into valuable resources. Our goal is clear: We want to be a leading global provider of renewable and circular solutions."
Source: Neste
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