To accelerate their efforts to build defossilized supply chains for brand owners in Japan, Neste and Mitsubishi Corporation (“MC”) have agreed to establish a strategic partnership that will focus on developing value chains for renewable chemicals and plastics for and with Japanese brands. The partners are targeting brands in industries such as food and beverage, apparel, and consumer electronics. Neste will contribute its expertise in sustainability and more sustainable materials, as well as in the form of renewable Neste RE, a bio-based raw material for plastics production. MC will contribute its strong experience in business development and supply chain management of petrochemical products and derivatives in the region.
Neste and MC have previously worked together on a number of separate projects, such as a multi-party partnership to produce clothing from bio-based materials for Goldwin Inc. and a partnership with other partners to enable the production of renewable PET bottles for Suntory Holdings Limited.
Carrie Song, senior vice president, Commercial at Neste Renewable Products, says, “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.” We can supply the resources and the expertise together. By working together, we can also introduce the materials into value chains, facilitating the transition of businesses to more environmentally friendly practices.
Neste and MC have previously worked together on a number of separate projects, such as a multi-party partnership to produce clothing from bio-based materials for Goldwin Inc. and a partnership with other partners to enable the production of renewable PET bottles for Suntory Holdings Limited.
Carrie Song, senior vice president, Commercial at Neste Renewable Products, says, “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.” We can supply the resources and the expertise together. By working together, we can also introduce the materials into value chains, facilitating the transition of businesses to more environmentally friendly practices.
“Our strength is in our ability to build supply chains and reach a broad range of brand owners in Japan,” says Yoshiyuki Watanabe, division COO of Mitsubishi Corporation’s Business Development Division. “Over many years, in partnership with reliable partners, we have strategically invested and engaged in traditional commerce to build this strength. We are excited to deepen our partnership with Neste because we know that none of these accomplishments would be possible without them. In order to address the demands of society, we are excited to grow our network to include partners who hold similar principles and produce advantages for the economy, society, and environment.
With this strategic alliance, Neste and Mitsubishi Corporation will expedite the shift from fossil fuels to renewable plastics going forward, helping to bring about the early realization of a defossilized civilization in the materials
