Under the terms of the agreement, Neste will provide Neste RE™, a raw material for chemicals and plastics made from 100% renewable raw materials. Lotte Chemical will use Neste RE at its Korean sites to produce multiple plastics and chemicals used in applications that include packaging, construction, textiles and electronics. The quality and performance of the end products are equal to conventional, petroleum-based products. .
“We are looking forward to increasing the share of renewable solutions in collaboration with Lotte Chemical,” says Jeroen Verhoeven, Vice President Value Chain Development for renewable polymers and chemicals at Neste. “Together, we can pave the way to more sustainable supply chains and lower emissions for a wide range of sectors and applications.”