Global refinery giant collaborates with UK-based recycling firm to turn waste plastic into renewable oils | Envirotec
A collaboration between a renewable oil producer and a UK-based plastic recycling specialist is seeking to “revolutionise the way that plastic waste is treated around the globe”. In mid-August Teesside-based ReNew ELP and Finnish refinery giant Neste signed a Memorandum of Understanding that will see both companies work together to capitalise on the value of waste plastic as a raw material feedstock for the production of liquid hydrocarbons, chemicals and new plastics. In Europe, around 27 million tonnes of post-consumer plastic waste is generated each year. Approximately a third is currently collected for recycling, with the remainder either landfilled, incinerated or dumped, polluting vulnerable ecosystems.