"We are truly excited about the progress of our joint project work. By fixing the investment location and scope, we are again one step closer to turning our dream into reality," says Theo Roussis, CEO at Ravago. "Together with Neste, we have the necessary ingredients for a successful recipe to create scalable solutions, converting non-recyclable waste streams into valuable end products."
"Chemical recycling has been a promising technology to accelerate the creation of a circular economy for quite a while," says Mercedes Alonso, Executive Vice President, Renewable Polymers and Chemicals at Neste. "Now, it is time to take it to the next level and turn the promise into an industrial solution. By combining the expertise of Ravago and Neste, we have the means to rapidly implement the technology to start production at commercial scale. With joint and dedicated efforts, we can bring together the know-how along the entire value chain to turn waste into valuable resources. Our ambition is clear: to be a global leader in renewable and circular solutions." This targeted investment is the consistent continuation of the fast-paced progress in the cooperation between the partners. In 2019, Neste and Ravago set a joint target to reach the capacity to process over 200,000 tons of mixed waste plastic per year by 2030. Ever since, the companies have evaluated technologies, the raw material market, and built joint business cases to develop chemical recycling capacities. Already in 2020, Neste also successfully conducted the first of several industrial trial runs with liquefied waste plastic at its oil refinery in Finland.