Neste and Mitsubishi Corporation collaborate to develop supply chain for renewable chemicals and plastics

Neste and Mitsubishi Corporation (MC) have agreed to establish a strategic partnership focused on developing a value chain for renewable chemicals and plastics for Japanese brands. The partners are targeting brands in sectors such as food and beverages, apparel and consumer electronics. Through this collaboration, Neste and MC aim to accelerate efforts to build a fossil-free supply chain for Japanese brand owners.

As part of the collaboration, Neste will provide its expertise in sustainability and more sustainable materials, including renewable Neste RE, a bio-based raw material for plastic production. MC will provide its extensive experience in business development and supply chain management for petrochemicals and derivatives in the region. Together, the partners will offer comprehensive solutions for Japanese brands looking to reduce greenhouse gas (GHG) emissions and reliance on fossil resources in their supply chains.

Neste and MC have already collaborated on several individual projects in the past, including working with other partners to produce renewable PET bottles for Suntory Holdings Co., Ltd. and working with multiple parties to produce clothing using bio-based materials for Goldwin Inc.

Carrie Song, senior vice president of commercial at Neste Renewable Products, said: "Through this collaboration, we will be able to offer a full suite of solutions to sustainability-focused businesses in Japan to reduce greenhouse gas emissions associated with plastics. Together, we can provide materials and expertise. Together, we can also integrate materials into the value chain, making it easier for companies to move to more sustainable solutions."

Yoshiyuki Watanabe, chief operating officer of Mitsubishi Corporation's business development division, said: "Our strength lies in our ability to establish supply chains and access to a variety of brand owners in Japan. We have cultivated this advantage over the years through traditional trade and strategic investments in collaboration with trusted partners. We recognize that these achievements cannot be achieved alone, so we are eager to strengthen our relationship with Neste. We are excited to expand our network to include partners who share the same values, thereby generating economic, social and environmental benefits and addressing the needs of society."