MOSCOW (MRC) -- Neste, Idemitsu Kosan, CHIMEI and Mitsubishi Corporation have agreed to build a renewable plastics supply chain utilizing bio-based hydrocarbons (Neste RE) for the production of styrene monomer (i.e. bio-SM), and its mass balanced renewable plastics derivatives including acrylonitrile butadiene styrene (i.e. bio-ABS), said Hydrocarbonprocessing.
The bio-SM production in Japan and the renewable plastics production in Taiwan will mark the first of such production in each country, and they are planned to take place in the first half of 2023.
Neste, the world’s leading producer of renewable and circular feedstock for the polymers and chemicals industry uses, will provide Neste RE to Idemitsu Kosan, the biggest SM manufacturer in Japan. For this collaboration, Neste RE is produced from 100% bio-based raw materials such as waste and residues and its use can significantly reduce greenhouse gas (GHG) emissions compared with conventional fossil feedstock use.
Idemitsu Kosan will then produce bio-SM based on the mass balance method and supply it to CHIMEI, the biggest ABS manufacturer in the world for its renewable plastics production. Mitsubishi Corporation will be coordinating the collaboration between the value chain partners to develop the renewable products’ market.
Through developing an even stronger partnership and closer collaboration than conventionally seen in plastics value chains, the companies are introducing new renewable contents into the value chain to enable plastic production where fossil feedstock has been replaced with renewable feedstock. With this, the companies are contributing to the plastics industry GHG emission reduction targets and the transition towards a low-carbon emission society.
We remind, Neste Corporation and Marathon Petroleum Corporation (Marathon) announced an agreement to establish a 50/50 joint venture to produce renewable diesel following a conversion project of Marathon's refinery in Martinez, California. All required closing conditions have been met, including the receipt of the necessary permits and regulatory approvals, and Neste and Marathon have today closed the transaction for the establishment of the joint venture to be called Martinez Renewables.