Finland – Neste and South Korean chemical company Lotte Chemical are teaming up 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 Neste RE, a raw material for chemicals and plastics, that is made from 100% renewable raw materials. Lotte Chemical will use Neste RE at the company’s Korean sites to produce various common types of plastics and chemicals in Lotte Chemical’s 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. 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.
