Neste and Mitsubishi co-develop value chains for renewable plastics

Neste and Mitsubishi Corporation (MC) will partner to develop value chains for renewable chemicals and plastics for and with Japanese brands in industries such as food and beverage, apparel, and consumer electronics.

Neste will provide its expertise in sustainability and renewable Neste RE, a bio-based raw material for plastics production. MC will provide its experience in business development and supply chain management of petrochemical products and derivatives.

Together, the partners will offer a full package of solutions for Japanese brands looking to reduce greenhouse gas (GHG) emissions and reliance on fossil resources in their supply chains.

Signing ceremony between Neste and Mitsubishi Corporation.

Neste and MC have already cooperated on several individual projects in the past, including a collaboration with other partners to enable the production of renewable PET bottles for Suntory Holdings Limited as well as a multi-party collaboration to produce apparel from bio-based materials for Goldwin Inc.

“Together, we can provide the materials and the know-how. Together, we can also get the materials into the value chains, making it easier for companies to make the switch to more sustainable solutions,” says Carrie Song, Senior Vice President, Commercial at Neste Renewable Products.

“Our strength lies in our capability to establish supply chains and access a wide variety of brand owners in Japan,” says Yoshiyuki Watanabe, Division COO, Business Development Div. at Mitsubishi Corporation. “We are thrilled to expand our network to include partners who share similar values, thereby generating economic, societal and environmental benefits to meet the needs of society.”