The Finnish petroleum company Neste has acquired the European rights to Alterra Energy's pyrolysis technology for this purpose.
By acquiring the European rights to the pyrolysis technology of US-based Alterra Energy (Akron, Ohio), Neste says it aims to further strengthen its chemical recycling activities. Alterra Energy has developed its own thermochemical technology for liquefying hard-to-recycle plastics into pyrolysis oil. The company reportedly already operates a commercial-scale facility in Akron that converts waste plastics into pyrolysis oil that can be further processed for new plastics. Through chemical recycling of plastics, Neste hopes to reduce its dependence on crude oil and accelerate the transition to a circular economy in the production of polymers and chemicals. "By acquiring the rights to Alterra Energy's technology in Europe, we can offer our partners a holistic solution," says Heikki Färkkilä, Vice President Chemical Recycling at Neste Renewable Polymers and Chemicals. "Neste can thus offer chemical recycling as a complete solution: from plastic waste to product in the form of high-quality drop-in raw materials for the production of new polymers and chemicals." Together with Belgian chemical company Ravago, Neste says it intends to establish a joint venture to use Alterra Energy's technology at a plant in Vlissingen, the Netherlands. And to explore investments and capacity for pretreatment and upgrading, Neste said it is currently conducting a feasibility study to expand processing capacity for liquefied plastic waste at its refinery in Porvoo, Finland.