Neste decides to invest in liquefied waste plastic upgrading unit at its Porvoo refinery
Press release: Neste Corporation, 15 June 2023 at 2.00 p.m. (EET)
Photo: Neste’s complex refinery in Porvoo, Finland, offers excellent opportunities for transforming and reusing existing assets and processes for new purposes, such as upgrading liquefied waste plastic into high-quality petrochemical feedstock. Source: Neste
- Investment of 111 million euros
- Important milestone in scaling up chemical recycling
Neste has made the final investment decision to commence construction of upgrading facilities for liquefied plastic waste at its Porvoo refinery in Finland. With the investment of 111 million euros, Neste will build the capacity to upgrade 150,000 tons of liquefied waste plastic per year. Upgrading is one of the three processing steps turning liquefied waste plastic into high-quality feedstock for new plastics: pretreatment, upgrading and refining. The investment is part of a broader project (PULSE*), which has received an EU Innovation Fund grant of 135 million euros if fully implemented and is targeting a total capacity of 400,000 tons per year.
Pretreatment and upgrading of liquefied waste plastic play an important role in Neste’s approach to chemical recycling. They allow the company to increase flexibility for processing lower-quality plastic waste and scale up processing the liquefied waste plastic into high-quality petrochemical feedstock in its existing refinery in Porvoo.
