In Europe, oil refiner and renewable products producer Neste Oyj and Covestro AG, one of the world's largest manufacturers of polymers are starting strategic cooperation to promote the use of sustainable raw materials in plastics production. Covestro will be supplied with material from renewable sources to replace a significant portion of the fossil raw materials used to date in the manufacture of polycarbonates, a high-performance plastic used in car headlamps, electronic and medical devices.
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Over the short term, the collaboration aims to replace several thousand tonnes of fossil raw materials in the production of polycarbonates with raw materials produced with Neste’s renewable hydrocarbons. Neste produces its renewable hydrocarbons entirely from renewable raw materials, such as waste and residue oils and fats.
Promoting the use of sustainable materials
The polymers and chemical industries will play a major role in the circular economy and fight against climate change. That is why Neste is committed to supporting the industry forerunners like Covestro on their sustainability journey. Our collaboration enables Covestro to play a significant role in providing climate-friendlier raw materials to leading brands and help them reach their materials-related sustainability targets. With Covestro, the positive impact provided by Neste’s renewable hydrocarbons is expanded beyond the field of polyolefins, showing the product’s value and compatibility with more complex value chains, said Peter Vanacker, President, and CEO of Neste.
Thanks to being a drop-in replacement to commonly-used fossil feedstock in the production of the polymers, Neste’s product is suitable for existing production infrastructures and enables customers like Covestro to produce more sustainable products with consistently high quality using their existing processes.
With this collaboration, we are emphasizing our intention to make our production more sustainable and to drive forward the change to a circular economy. Using alternative raw materials more intensively as we are doing is an important basis for this. We are fully committed to working with many partners to manage the transition to a circular economy, the great overall social project of the coming years and decades. To this end, we are also cooperating with upstream partners such as Neste to meet our own raw material requirements from renewable sources to an even greater extent. By transforming our production, we are helping important industrial sectors such as the automotive and electronics industries achieve greater sustainability and reduce the dependence on crude oil, said Dr Markus Steilemann, CEO of Covestro.
In the future, both companies intend to expand the scope of their partnership, also with regard to other types of polymers. At the same time, they are inviting other stakeholders along the value chains to cooperate.
