Neste and Mitsubishi Corporation Partner to Innovate Supply Chains for Renewable Chemicals and Plastics

In a strategic move, Neste, a leader in renewable chemicals and plastics, has joined forces with Mitsubishi Corporation (MC) to develop sustainable supply chains for Japanese brands. Targeting industries like food & beverage, apparel, and consumer electronics, this collaboration aims to accelerate the adoption of bio-based materials, replacing fossil fuels in Japanese manufacturing. This partnership positions Neste and MC as key players in Japan's transition towards a more circular and sustainable economy.

In the course of this cooperation, Neste will contribute its expertise in sustainability and the use of more 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, the partners will deliver comprehensive solutions to Japanese brands aiming to reduce greenhouse gas (GHG) emissions and decrease reliance on fossil resources in their supply chains.

Neste and MC have previously collaborated on several projects, such as enabling the production of renewable PET bottles for Suntory Holdings Limited and engaging in a multi-party initiative to create apparel from bio-based materials for Goldwin Inc.

Carrie Song, Senior Vice President, Commercial at Neste Renewable Products, emphasized that the partnership will enable sustainability-minded companies in Japan to effectively reduce their plastics-related greenhouse gas emissions. She highlighted that the collaboration will provide both the necessary materials and expertise, facilitating the integration of these materials into value chains. This comprehensive approach aims to simplify the transition for companies, making it easier for them to adopt more sustainable solutions. By working together, the partnership aims to drive significant progress in reducing environmental impacts within the industry.

Yoshiyuki Watanabe, Division COO, Business Development Div. at Mitsubishi Corporation, stated that their strength lies in their ability to establish supply chains and engage with a wide range of brand owners in Japan. This capability has been developed over many years through traditional trading and strategic investments with trusted partners. Acknowledging that such achievements require collaboration, Watanabe expressed eagerness to strengthen their relationship with Neste. He emphasized their excitement about expanding their network to include partners with shared values, aiming to generate economic, societal, and environmental benefits to meet societal needs.

Moving forward, Neste and Mitsubishi Corporation will intensify efforts to transition from fossil-based to renewable plastics through their strategic partnership. This collaboration aims to significantly advance the adoption of sustainable materials, thereby contributing to the early realization of a defossilized society in the materials sector. By combining Neste's expertise in renewable materials with Mitsubishi's strong business development and supply chain management capabilities, the partnership is poised to drive substantial progress in reducing greenhouse gas emissions and fossil resource dependence.