Neste and South Korean chemical company Lotte Chemical said they have reached a rategic collaboration 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 companies said in a statement.
Neste will provide 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, the companies said.
“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. “Together, we can pave the way to more sustainable supply chains and lower emissions for a wide range of sectors and applications.”
These plastics and chemicals may be used in multiple applications and in supply chains for various products. These products range from packaging to construction and from textiles to electronics.
“With chemicals and plastics still largely depending on fossil resources, both companies see an urgent need to make a switch to more sustainable alternatives,” the companies said.
