Neste, Mitsubishi Partner to Step Up Renewable Plastics
Neste Oyj
Key Takeaways
Neste and Mitsubishi Corporation form a strategic partnership to drive renewable chemicals and plastics in Japan.
The collaboration targets brands in food & beverage, apparel, and consumer electronics.
The partnership aims to create "defossilised" supply chains, reducing reliance on fossil fuels.
Neste, a leader in renewable solutions, and Mitsubishi Corporation (MC), a global trading giant, have partnered to accelerate the development and adoption of sustainable chemicals and plastics in Japan.
This strategic partnership focuses on collaborating with Japanese brands in industries like food and beverage, apparel, and consumer electronics.
Building Defossilised Supply Chains
The core objective is to establish "defossilised" supply chains for Japanese companies. This means replacing fossil fuel-based materials with renewable alternatives throughout the production process. Neste will contribute its expertise in sustainable materials, including their bio-based Neste RE™ for plastics production. MC brings its extensive experience in business development and managing petrochemical supply chains within the region.
Combined Strengths for Sustainability
By combining their strengths, Neste and MC offer a comprehensive solution for Japanese brands seeking to reduce their environmental footprint. Companies can now access both the sustainable materials and the knowledge required to integrate them into their supply chains, simplifying the transition towards more sustainable practices.
Proven Track Record of Collaboration
Neste and MC's previous successful collaboration serves as the foundation for their partnership. They have previously collaborated on projects like creating renewable PET bottles for Suntory Holdings and bio-based apparel for Goldwin Inc., establishing their commitment to sustainable innovation.
Carrie Song, Senior Vice President at Neste, says, "Through this partnership, we will be able to provide sustainability-minded companies in Japan with a full package to reduce their plastics-related GHG emissions. Together, we can provide the materials and the know-how. Together, we can also get the materials into the value chains, making it easier for companies to make the switch to more sustainable solutions.”
Yoshiyuki Watanabe, Division COO at MC, adds, "Our strength lies in our capability to establish supply chains and access a wide variety of brand owners in Japan. We have cultivated this strength over many years through traditional trading and strategic investments in collaboration with trusted partners.
"Recognizing that these achievements cannot be made alone, we are eager to strengthen our relationship with Neste. We are thrilled to expand our network to include partners who share similar values, thereby generating economic, societal and environmental benefits to meet the needs of society.”
Looking Ahead: A Defossilised Future
Neste and Mitsubishi Corporation's strategic relationship is a key step towards a future with less reliance on fossil fuels in the materials industry. This partnership opens the door for a more "defossilised" society by empowering Japanese brands to embrace sustainable solutions.
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Source: Neste
