HELSINKI, Feb. 11, 2020 (Press Release) -INEOS and UPM Biofuels have today announced a long-term agreement to supply a renewable raw material for new and innovative bio-attributed polymers to be produced at INEOS Köln, Germany.
INEOS will use UPM BioVerno, a sustainable raw material from a renewable residue of wood pulp processing, to produce bio-attributed polyolefins.
These new sustainable materials will be used in a wide range of products from plastic food packaging to medical and pipes. Applications also include BIOVYNTM, the world’s first commercially available bio-attributed PVC, produced by INOVYN an INEOS Business.
The agreement supports INEOS plans to make plastic from renewable raw materials, significantly reducing greenhouse gas emissions and supporting a more circular approach to INEOS Olefins & Polymers production.
The Roundtable on Sustainable Biomaterials (RSB) has certified each step in the process, starting from UPM Biofuels converting the wood-based residue (crude tall oil) into hydrocarbons, through to the final polymer.
The result of UPM Biofuels’ production is a bio-based cracker feedstock that does not compete with food production. By replacing fossil based raw materials with UPM BioVerno in its cracker, INEOS products will contribute to a significant reduction in carbon emissions.
Maiju Helin, Head of Sustainability and Market Development at UPM Biofuels said, “The collaboration with INEOS is a great step forward in the bio-economy. UPM BioVerno products now help to reduce climate and environmental impacts in an even broader range of applications. INEOS’s and UPM Biofuels’ commitment to RSB certification creates a strong common ground to build on.”
UPM’s bio-based cracker feedstock will be used by INEOS to make drop-in products that have a proven positive environmental impact whilst retaining the same high performance and quality standards expected by customers.
Rob Ingram, CEO INEOS Olefins & Polymers Europe North said, “The agreement supports INEOS plans to make plastic from renewable raw materials, which contribute to a significant reduction in carbon emissions.”
"We are pleased to be working with UPM Biofuels. They place fundamental importance on commitment to innovation and resource efficiency as well as social and environmental responsibility. This partnership in combination with RSB certification gives customers the confidence that they are choosing a high quality, sustainable product."
Wood-based UPM BioVerno products can be used to replace fossil raw materials, generating a significant reduction in carbon footprint.
INEOSis a leading manufacturer of petrochemicals, specialty chemicals and oil products. It has 34 businesses, with a production network spanning 183 manufacturing facilities in 26 countries. From paints to plastics, textiles to technology, medicines to mobile phones - chemicals manufactured by INEOS enhance almost every aspect of modern life. INEOS had sales in 2018 of around $60bn and EBITDA close to €6bn. Its products make a significant contribution to saving life, improving health and enhancing standards of living for people around the world.
UPM Biofuelsproduces renewable and sustainable products for the transport and petrochemical industries. We offer our customers ways to replace fossil raw materials and reduce their carbon footprint. UPM's innovative, bio-based products are frontrunners in quality, usability and sustainability.
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 18,700 people worldwide and our annual sales are approximately EUR 10.2 billion. Our shares are listed on Nasdaq Helsinki Ltd.