| Next milestone in the strategic cooperation of Borealis, Covestro and Neste for the use of alternative raw materials |
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| · Neste produces ISCC Plus certified hydrocarbons from 100 percent renewable raw materials
· Borealis uses hydrocarbons from Neste for manufacture of ISCC Plus certified phenol · Covestro receives supply of 1,000 tons of renewable phenol from Borealis As part of a strategic collaboration, Covestro received a first delivery of 1,000 tons of renewable phenol from Borealis, produced with renewable hydrocarbons from Neste. Neste produces these ISCC Plus certified hydrocarbons (ISCC: International Sustainability and Carbon Certification) entirely from renewable raw materials. The hydrocarbons are then converted into ISCC Plus certified phenol by Borealis and finally used by Covestro to produce the high-performance plastic polycarbonate – as a replacement for part of the phenol previously manufactured from purely fossil resources. Polycarbonate is used in car headlights, automotive glazing, LED lights, electronic devices as well as other applications. “With this first supply, we are once again underlining our commitment to the increased use of alternative raw materials. In this way, we are leading carbon in a circle and are driving the circularity forward, which must become the new global guiding principle,” says Covestro´s CEO Dr. Markus Steilemann. “By cooperating with upstream partners such as Neste and Borealis, we are showing how a sustainable value chain can work.” “We are delighted to see our product helping Covestro to achieve this new milestone. It highlights the drop-in nature of our product and its fit for a continuously increasing number of demanding applications,” says Peter Vanacker, CEO of Neste. “Furthermore, it is showcasing how sustainability-focused collaboration among frontrunner companies – Neste, Borealis and Covestro – can make a positive impact even within a complex value chain.” ”Life demands progress. We are proud to be pioneers to deliver renewable phenol to our strategic customer Covestro. Together with our innovative value chain partner Neste we are at the forefront of driving the circular economy,” says Alfred Stern, CEO of Borealis. “This is how we re-invent for more sustainable living.” Neste produces its renewable hydrocarbons entirely from renewable raw materials, such as waste and residual oils and fats. These hydrocarbons can be used in existing production infrastructures and help replace fossil feedstocks that are used in the polymers and chemicals production. This makes it possible for companies such as Borealis and Covestro to produce more sustainable products with consistently high quality on the basis of their existing processes. With the planned transformation of raw materials used in the company’s production, Covestro aims at helping key industries such as the automotive and electronics industries to achieve greater sustainability and reduce their dependence on materials from fossil resources. The project is part of a comprehensive program with which Covestro, together with its partners, is seeking to propel the transformation to a circular economy and become fully circular itself. www.borealisgroup.com / www.borealiseverminds.com / www.covestro.com / neste.com |
