Neste has received €135 million funding for plastics chemical recycling
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Neste Group has received an EU grant of €135 from the EU Innovation Fund to build plastics chemical recycling capacities at its Porvoo refinery in Finland. With its Pulse project (Pre-treatment and Upgrading of Liquefied Waste Plastic to Scalable Up Circular Economy), Neste aims to use proprietary technology to pre-treat and upgrade liquefied waste plastic and integrate the technologies into the refinery operations. The company is looking to upgrade its capacities by 400,000 tonnes per year, contributing to its goal of processing over 1 million tonnes of plastic waste per year from 2030 onwards.
This funding will enable Neste to commercialize its plastics chemical recycling technology and bridging the gap between the unprocessed liquefied plastics waste and the virgin plastic materials
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