Neste has announced Neste RE - a new recycled, bio-based feedstock that is compatible with existing polymer and chemical production infrastructures.

The company hopes that its new product will help to reduce the need for virgin fossil resources, while also providing a new solution to the end-of-life related challenges the polymers and chemicals industries are facing today.

Neste RE can be used in a range of plastics applications, from packaging to toys, as well as sensitive applications such as high-performing medical equipment. According to the company, its new solution makes it possible to use bio-based waste and residues and waste plastic in the manufacture of high-quality products.

Lars Börger, vice president of renewable polymers and chemicals at Neste, says: “We need to take drastic action to achieve the necessary change towards a circular economy in materials. With Neste RE, we combine the best of renewable and recycled materials, to serve as a sustainable feedstock alternative for the polymers and chemicals sectors.

“This new product provides a new solution for the industry to close the circle of material flows. Neste RE is available globally, and together with like-minded partners, we can use Neste RE as a tool to change and revolutionize plastics.”

Neste is marketing its new solution as both renewable and recycled: the product’s renewable components can be produced from waste and residue oils and fats and sustainably-produced vegetable oils.

The recycled component is produced from chemically-recycled plastic waste that cannot be recycled mechanically, such as coloured, multilayer, or multi-material packaging.