Neste is a solution provider in chemical recycling, and from 2030 onwards, aims to recycle over 1 million tons of hard-to-recycle plastic waste per year. Neste's chemical recycling approach is based on liquefaction (e.g. through pyrolysis) and subsequent oil refining to produce drop-in petrochemical feeds for the manufacturing of virgin-quality plastics and chemicals. An expert in refining of low-quality oils to high-quality products, Neste is refining waste-plastic-based oils since 2020. The company builds capacity to refine liquefied waste plastic oils in its EU Innovation Fund grant-awarded project PULSE (Pretreatment and Upgrading of Liquefied waste plastic to Scale up circular Economy). In Europe, Neste is also the exclusive licensor for Alterra Energy's liquefaction technology.