London, November 04, 2024, (Oilandgaspress) –––Neste, Alterra and Technip Energies have signed a collaboration agreement to advance the circularity of plastics by providing the industry a standardized technology solution for chemical recycling, also referred to as “advanced recycling”. The partners aim to globally offer a standardized modular solution, based on Alterra’s proprietary liquefaction technology, to parties interested in building capacity for chemical recycling. This solution will come in the form of readily designed and engineered liquefaction plant modules, which will allow for lower pre-investment costs, accelerated implementation time, high predictability on project economics and reduced overall capital costs. Contributing to more effective execution of chemical recycling capacity projects, the solution helps the industry to reduce dependency on virgin fossil resources and accelerate the circularity of polymers and chemicals.
Alterra’s technology is a thermochemical liquefaction process, which converts hard-to-recycle plastics into a liquid hydrocarbon product. This liquid intermediate product can then be further refined into high-quality raw materials for new plastics and chemicals. As of today, Neste alone has processed more than 6,000 tons of plastic-derived feeds, including ISCC PLUS certified oil from Alterra’s industrial-scale site in Akron, Ohio.
Combining the expertise of three companies in one solution
Alterra and Neste started collaborating in chemical recycling in 2021, jointly improving aspects of Alterra’s technology and creating respective value chains. Alterra and Technip Energies started their collaboration in chemical recycling in 2022. The three companies now join efforts in a unique endeavor: Alterra and Neste will license the liquefaction technology and Technip Energies will design, engineer and deliver the standardized liquefaction plant solution to interested parties globally.
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