Neste and Covestro start a strategic cooperation in Europe to promote the use of sustainable raw materials in plastics production. Neste will supply Covestro 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, LED lights, electronic and medical devices and automotive glazing.
Over the short term, the collaboration aims to replace several thousand tons 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. Because it is a drop-in replacement to commonly used fossil feedstock in the polymers production, 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.
“The polymers and chemicals 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,” says Neste President and CEO Peter Vanacker. “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.”
"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,” says Covestro CEO Dr. Markus Steilemann. “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.”
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.
For more information, visit:www.neste.com
