Neste and Mitsubishi to build renewable chemical supply chain

Through the developed partnership, Neste and MC will provide comprehensive solutions for companies seeking to reduce greenhouse gas (GHG) emissions. Neste and Mitsubishi Corporation ("MC") have agreed to establish a strategic partnership focused on developing supply chains for renewable chemicals and plastics for Japanese brands. The partnership targets brands in sectors such as food and beverage, apparel and consumer electronics. Through the developed partnership, Neste and MC aim to accelerate efforts to create fossil-free supply chains for brand owners in Japan. As part of the collaboration, Neste will demonstrate its expertise in sustainability and sustainable materials, including in the form of renewable Neste RE™, a bio-based raw material for plastic production. MC will offer its strong experience in business development and supply chain management of petrochemical products and derivatives to its customers in the region. Together, Neste and MC will provide comprehensive solutions for Japanese brands seeking to reduce greenhouse gas (GHG) emissions and reduce dependence on fossil sources in their supply chains. Neste and MC have previously collaborated on numerous individual projects, including a collaboration to supply renewable PET bottles for Suntory Holdings Limited as well as a multilateral collaboration on clothing production from bio-based materials for Goldwin Inc. Yoshiyuki Watanabe, Chief Operating Officer of Mitsubishi Corporation's Business Development Division, stated: "Our strength lies in our ability to build supply chains and access a diverse range of brand owners in Japan. We have developed this strength through traditional commerce and strategic investments in collaboration with trusted partners over many years. Being aware that these successes could not be achieved alone, we are eager to strengthen our relationship with Neste. We are excited to expand our network to include partners sharing similar values and thus create economic, social and environmental benefits to meet the needs of society," he added. Through this strategic partnership, Neste and Mitsubishi Corporation will contribute to accelerating the transition to a fossil-free future in the materials sector by speeding up the shift from fossil-based to renewable plastics. Source