Neste and LyondellBasell agree long-term commercial Neste RE offtake deal
LyondellBasell Industries Holdings B.V (LyondellBasell), one of the world's largest plastics, chemicals, and refining companies, and Finland-headed oil refiner and renewable fuels, and products producer Neste Oyj have announced a long-term commercial agreement under which LyondellBasell will source "Neste RE", a feedstock from Neste that has been produced from 100 percent renewable and bio-based sources, such as waste and residue oils and fats.
This “Neste RE” feedstock will be processed through the cracker at LyondellBasell’s plant in Wesseling, Germany, into polymers and sold under the “CirculenRenew” brand name.
We are delighted that our strategic relationship with LyondellBasell is further strengthened with this long-term commercial agreement. With LyondellBasell, we share both the innovative spirit and the sense of urgency to make active contributions towards combating climate change and accelerating the shift to a circular bio-economy. We made history together by joining forces in 2019 in the world’s first commercial-scale production of bio-based polypropylene and bio-based polyethylene with verified renewable content. I am very much looking forward to the next industry milestones we can reach together, said Mercedes Alonso, EVP, Renewable Polymers and Chemicals at Neste.
Through their collaboration, Neste and LyondellBasell are jointly contributing to the development of the European market for more sustainable polymers and chemicals solutions. By ensuring continuity with significant industrial-scale volumes of renewable polymers produced with renewable feedstock from bio-based sources, the companies wish to enable sustainability-focused brands to develop more sustainable products and offerings.
Part of a new “Circulen” family of products
In April 2021, LyondellBasell launched the “Circulen” family of products. LyondellBasell’s “CirculenRenew” product line consists of polymers linked to renewable-based feedstocks, while polymers made from mechanically recycled materials are marketed under the brand name “CirculenRecover” and those linked to advanced (molecular) recycling are called “CirculenRevive”.
We are very pleased that together with Neste we can bring our customers one step closer to the creation of more sustainable end products. The extended relationship with Neste is an important piece in our multi-pronged approach to delivering on our sustainability goals. We have already made some significant steps in this direction since the beginning of this year, amongst which the recent launch of our Circulen product family and the ISCC Plus certification, which we have obtained for our European polymer site said Richard Roudeix, LyondellBasell SVP of Olefins and Polyolefins for Europe, Middle East, Africa, and India.