November 07, 2024 – A groundbreaking collaboration has been inked by Neste, Alterra, and Technip Energies, aiming to standardize global chemical recycling technologies and bolster plastic circularity efforts. This partnership leverages Alterra’s exclusive liquefaction technology to provide a standardized and modular liquefaction plant solution for companies worldwide interested in venturing into chemical recycling.
The modular design of this solution not only drastically cuts down initial investment and implementation costs but also significantly enhances the project’s economic viability and predictability. Consequently, it becomes more feasible for enterprises to embark on chemical recycling, collectively contributing to reducing fossil resource dependence and accelerating the circular use of polymers and chemicals.
According to AsiaMB’s insights into the color masterbatch industry, Alterra’s thermochemical liquefaction process stands as the linchpin of this collaboration. This technology transforms hard-to-recycle plastics into liquid hydrocarbons, which serve as high-quality raw materials for new plastics and chemicals. Neste, as a pioneer in utilizing this technology, has already processed over 6,000 tons of plastic-derived feedstock, including oils from Alterra’s ISCC PLUS-certified industrial-scale facility in Akron, Ohio, USA. Since 2021, Alterra and Neste have closely collaborated in chemical recycling, and now with the addition of Technip Energies, the trio aims to further refine liquefaction technology and establish a robust value chain.
Executives from the three companies have expressed their enthusiasm regarding this partnership, highlighting its potential to significantly lower market entry barriers and accelerate the deployment of liquefaction recycling technologies. Frederic Schmuck, CEO of Alterra Energy, emphasized that after 15 years of technological development, the liquefaction process is now mature and stable, and through this “copy-paste” solution, global liquefaction capacity can be swiftly expanded. Andreas Teir, Head of Chemical Recycling at Neste, stated that Neste’s demand for high-quality processing of recycled raw materials is growing, and this collaboration offers them a powerful and easily deployable liquefaction technology. Bhaskar Patel, Senior Vice President at Technip Energies, added that the market desires reduced upfront investments, proven technology stability, and alignment with 2030 climate commitments, making this partnership an ideal solution to meet these expectations.