Neste and Mitsubishi to establish renewable chemicals supply chain in Japan

Neste Corporation and Mitsubishi Corporation (MC) have announced a strategic partnership aimed at developing value chains for renewable chemicals and plastics targeting Japanese brands in various industries, including food and beverage, apparel, and consumer electronics. This collaboration seeks to accelerate efforts in creating decarbonised supply chains for brand owners in Japan, emphasising sustainability and reduced greenhouse gas emissions.

Partnership highlights

– Expertise and Resources: Neste will bring its sustainability expertise and renewable Neste RE™, a bio-based raw material for plastics production. MC will contribute its experience in business development and supply chain management of petrochemical products in the region.

– Collaborative Projects: The two companies have previously collaborated on projects, including producing renewable PET bottles for Suntory Holdings Limited and bio-based apparel for Goldwin Inc.

– Strategic Goals: The partnership aims to provide comprehensive solutions for Japanese brands to reduce their reliance on fossil resources and lower their plastics-related greenhouse gas emissions.

“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,” said Carrie Song, senior vice president, Commercial at Neste Renewable Products. “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.”

“Our strength lies in our capability to establish supply chains and access a wide variety of brand owners in Japan,” said Yoshiyuki Watanabe, COO, Business Development Division, Mitsubishi Corporation. “We have cultivated this strength over many years through traditional trading and strategic investments in collaboration with trusted partners. Recognising 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.”