Neste, Marubeni, and Resonac Collaborate on Renewable Olefins Production
Neste, Marubeni, and Resonac Collaborate to Produce Renewable Olefins and Derivatives in Japan
Neste, Marubeni Corporation, and Resonac Corporation have teamed up to create renewable olefins and derivatives using Neste's renewable raw material at Resonac's Oita Complex in Japan. Marubeni will oversee logistics, including the transportation of Neste's material. This collaboration aims to reduce greenhouse gas emissions by substituting fossil feedstocks with Neste RE, a bio-based feedstock derived from waste oils and residue fats. Neste is renowned for leading the charge in renewable fuel and feedstock solutions, while Resonac's Oita Complex is now ISCC PLUS certified for renewable olefins and derivatives production.
Key Takeaways
- Neste, Marubeni, and Resonac have formed a cooperative agreement to produce renewable olefins and derivatives in Japan.
- Neste RE, a renewable raw material, will be used in Resonac's manufacturing processes, replacing fossil fuel-based feedstocks.
- Marubeni will manage logistical aspects, including transportation of Neste's raw materials.
- The collaboration aims to support the petrochemical industry's transition to carbon neutrality.
- Neste is a leader in sustainable aviation fuel, renewable diesel, and circular feedstock solutions for polymers and chemicals.
Analysis
This collaboration between Neste, Marubeni, and Resonac to produce renewable olefins and derivatives in Japan will reduce greenhouse gas emissions, furthering the petrochemical industry's transition to carbon neutrality. Neste's renewable raw materials, such as Neste RE, will replace fossil fuel-based feedstocks in Resonac's manufacturing processes. Marubeni's logistics management will ensure efficient transport of Neste's materials.
Short-term: This partnership will lower emissions in Japan's petrochemical sector, reinforcing the country's climate commitments. Investors with a focus on ESG will perceive this positively.
Long-term: As other nations and industries take note of this successful cooperation, they may adopt similar strategies. This could prompt a global ripple effect, encouraging the petrochemical industry to further embrace sustainable practices and renewable resources.
Countries and organizations benefiting: Japan, in its pursuit of carbon neutrality, and other nations interested in replicating this model. Financial instruments linked to ESG or green energy will also benefit from this development.
Did You Know?
- Renewable olefins and derivatives: These are produced from sustainable raw materials, such as waste oils and residue fats, instead of fossil fuels. They are vital components in the chemical industry.
- Neste RE: Produced by Neste, it is derived from waste oils and residue fats and serves as a sustainable alternative to fossil fuel-based feedstocks in various manufacturing processes.
- ISCC PLUS certification: This certification scheme ensures the sustainability and traceability of renewable raw materials and bio-based products. Resonac's Oita Complex has been certified under the ISCC PLUS scheme for the production of renewable olefins and derivatives, proving adherence to stringent sustainability and environmental criteria.