Neste and Mitsubishi Corporation have formed a strategic partnership to develop value chains for renewable chemicals and plastics, specifically targeting Japanese brands in sectors such as food and beverage, apparel, and consumer electronics. The goal of this partnership is to expedite the creation of defossilized supply chains for these brand owners in Japan.
Neste will contribute its expertise in sustainability and renewable materials, including its bio-based raw material for plastics production, Neste RE™. Mitsubishi Corporation will leverage its extensive experience in business development and supply chain management of petrochemical products in the region. Together, they will provide comprehensive solutions to Japanese brands seeking to lower greenhouse gas (GHG) emissions and reduce reliance on fossil resources in their supply chains.
The two companies have previously collaborated on various projects, such as producing renewable PET bottles for Suntory Holdings Limited and creating apparel from bio-based materials for Goldwin Inc.
“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, Division COO, Business Development Div. at Mitsubishi Corporation. “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.”
Moving forward, Neste and Mitsubishi Corporation will accelerate the transition from fossil to renewable plastics under this strategic partnership, contributing to the early realization of a defossilized society in the materials sector.
