Neste and Mitsubishi Corporation have announced a strategic partnership to develop value chains for renewable chemicals and plastics, targeting Japanese brands in industries such as food and beverage, apparel, and consumer electronics. This collaboration aims to accelerate efforts to build defossilized supply chains for brand owners in Japan.
Neste will bring its expertise in sustainability and sustainable materials, including the provision of renewable Neste RE™, a bio-based raw material for plastics production. MC will leverage its extensive experience in business development and supply chain management of petrochemical products and derivatives within the region. Together, they will offer comprehensive solutions for Japanese brands seeking to reduce greenhouse gas emissions and dependence on fossil resources in their supply chains.
Photo: Signing ceremony between Neste and Mitsubishi Corporation with Carrie Song, Senior Vice President, Commercial at Neste Renewable Products and Yoshiyuki Watanabe, Division COO, Business Development Div. at Mitsubishi Corporation. Source: Mitsubishi Corporation
The two companies have previously collaborated on several projects, such as enabling the production of renewable PET bottles for Suntory Holdings Limited and a multi-party initiative to produce apparel from bio-based materials for Goldwin Inc.
Carrie Song, senior VP, commercial at Neste Renewable Products, commented on the partnership, stating, “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, business development div. at Mitsubishi Corporation, added, “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. 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.”
Going forward, Neste and Mitsubishi Corporation will accelerate the transition from fossil to renewable plastics under this strategic partnership, contributing to the early realisation of a defossilized society in the materials sector.
For more information visit www.neste.com
