PARIS, June 29, 2026 /PRNewswire/ -- Alterra (North America), Technip Energies, and Neste announce the commercial launch of Nerea™, a new type of industrial offering designed to accelerate the deployment of chemical recycling projects for plastic waste. By transitioning from bespoke engineering to a standardized product model, Nerea enables waste operators, project developers, refining and petrochemical players to scale circular plastic production with enhanced predictability.

Global plastics production has nearly doubled over the past two decades, reaching approximately 431 million tons in 2024. Circularity rates are not keeping pace with continuing consumption growth, resulting in significant volumes of plastic waste that still end up in incinerators, landfills or released into the environment. At the same time regulatory developments in Europe and elsewhere are driving stronger demand for recycled and circular feedstocks.

Nerea™ addresses this challenge by building on the collaboration agreement signed by Technip Energies, Alterra and Neste in November 2024 and bringing together Alterra's thermochemical liquefaction technology, Neste's circular feedstock expertise, and Technip Energies' engineering, project delivery and modularization capabilities. Alterra's technology has demonstrated more than five years of continuous commercial operation, processing real-world plastic waste streams.

Nerea™ has a standardized, modular design that minimizes pre-investment and reduces project complexity, while providing greater certainty in terms of cost and schedule. Designed for rapid deployment across various industrial environments, the Nerea plant converts heterogeneous and hard-to-recycle plastic waste into high-quality feedstock for the petrochemical industry.

Fred Schmuck, Chief Executive Officer at Alterra stated: "Nerea reflects a shared vision among our three companies: making circular solutions easier to deploy at industrial scale. By combining proven technology, industrial expertise and a standardized delivery model, we're helping reduce the barriers that have traditionally slowed the growth of chemical recycling. Together with Technip Energies and Neste, we're creating a more predictable and scalable pathway for transforming difficult-to-recycle plastics into valuable feedstocks for a circular economy."

Julie Cranga, SVP Carbon capture & Circularity Product Line at Technip Energies, stated: "With Nerea, we are bringing together with our partners a proven technology, feedstock expertise and industrial delivery in a standardized offering, ready to deploy at scale. We are pleased to provide our clients with greater predictability and performance in development, investment and operations phase, helping to accelerate chemical recycling worldwide."

Lars Peter Lindfors, Senior Vice President Technology & Innovation at Neste, stated: "Neste's recently started upgrading unit in the Porvoo, Finland refinery is the world's largest by capacity. We know how to turn low-quality raw materials into high-quality solutions and look forward to supporting industry scale-up with robust and easy-to-deploy technology to meet our own and others' increasing demand for liquefied waste plastic."

Alterra in brief
Alterra is the developer, operator, and licensor of a thermochemical liquefaction process technology that renews discarded plastic back into its original building blocks, thus minimizing reliance on new, fossil-derived materials for the manufacturing of new plastic products. Our Akron, OH plastics circularity facility is the only full-scale, continuous plant of its kind. Through the global deployment of our technology, we are Solving Plastic Pollution®. Read more: https://alterra360.com/

About Technip Energies
Technip Energies is a global technology and engineering powerhouse. With leadership positions in LNG, hydrogen, ethylene, sustainable chemistry, and CO₂ management, we are contributing to the development of critical markets such as energy, energy derivatives, decarbonization, and circularity. Our complementary business segments, Technology, Products and Services (TPS) and Project Delivery, turn innovation into scalable and industrial reality.
Through collaboration and excellence in execution, our 18,000+ employees across 35 countries are fully committed to bridging prosperity with sustainability for a world designed to last.

Technip Energies generated revenues of €7.2 billion in 2025 and is listed on Euronext Paris. The Company also has American Depositary Receipts trading over the counter.

For further information: www.ten.com

About Neste
Neste (NESTE, Nasdaq Helsinki) is the world's leading producer of renewable diesel and sustainable aviation fuel (SAF), with production on three continents. The company's renewables production capacity is expected to reach 6.8 million tons annually in 2027. Neste also produces high-quality oil products at its Porvoo refinery in Finland. The company has a network of nearly 1,000 fuel stations with expanding service offering, such as EV charging, in Finland and in the Baltics.
Neste's strategy focuses on growth in renewable fuels, which help its customers to reduce their greenhouse gas emissions. Neste is included in many international indices for its sustainability performance. In 2025, Neste's revenue stood at EUR 19.0 billion.
Read more: neste.com

Inquiries
Alterra
Angela Sot
Marketing and Community Outreach Manager
Tel: +1 330 760 3311
Email: [email protected]

Technip Energies

Neste

Neste's media service, tel. +358 800 94025 / [email protected] (weekdays from 8.30 a.m. to 4.00 p.m. EET).

View original content to download multimedia:https://www.prnewswire.com/news-releases/alterra-technip-energies-and-neste-launch-nerea-a-standardized-modular-solution-for-plastic-chemical-recycling-302812351.html

SOURCE Alterra