Neste joins forces with Lotte Chemical to develop renewable chemicals and plastics

Neste and South Korea's Lotte Chemical are collaborating to make chemicals and plastics more sustainable. The two companies have begun a strategic collaboration to replace fossil resources with renewable raw materials in the manufacturing of chemicals and plastics. This will result in products and applications with a lower carbon footprint than those produced from fossil resources.

The partnership will see Neste supply renewable Neste RE, a chemical and plastic raw material made from 100% renewable raw materials.

Lotte Chemical will use Neste RE at the company's South Korean facility to produce a variety of common types of plastics and chemicals across Lotte Chemical's extensive product portfolio. These plastics and chemicals are used in a variety of applications and in the supply chain for a variety of products, from packaging to construction, and from textiles to electronics. The quality and performance of the final product remains unchanged.

With chemicals and plastics still largely reliant on fossil resources, both companies see an urgent need to shift to more sustainable alternatives.

Jeroen Verhoeven, Vice President of Value Chain Development for Renewable Polymers and Chemicals at Neste said: "We look forward to working with Lotte Chemical to increase the share of renewable solutions. By working together, we can pave the way for more sustainable supply chains and sustainable development. Reduce emissions across a variety of industries and applications. "