These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. The statements in this release relating to matters that are not historical facts are forward-looking statements. For more information, please visit follow LinkedIn. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's "World's Most Admired Companies" for the fifth consecutive year. The company takes great pride in its world-class technology and customer focus. LyondellBasell places high priority on diversity, equity and inclusion and is Advancing Good with an emphasis on our planet, the communities where we operate and our future workforce. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. QCP uses a mechanical recycling process to produce premium plastic pellets from post-consumer packaging waste for use in such applications as electrical appliances, washing detergent bottles and suitcases.Īs a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best operated and most valued company in our industry. In addition to its advanced recycling semi-industrial scale plant, LyondellBasell holds a 50% share in Quality Circular Polymers (QCP). "Together with LyondellBasell's commitment to expand on its circular polymer product offering and its work to develop advanced recycling into an industrial scale technology, 23 Oaks can contribute its part to make this a reality." "With our global experience at all levels of the circular economy and our extensive knowledge in all areas of the plastic recycling value chain combined with our strong hands-on approach, we feel we have right mix of competencies to make Source One Plastics a success," says Kai Hoyer, Managing Partner of 23 Oaks Investment. The Source One Plastics joint venture will provide a broad portfolio of services including waste procurement, sorting, and pre-treatment to deliver feedstock suitable for producing high-quality PCR material for a range of applications. This will enable us to meet our circularity ambition and produce two million tonnes of polymers from recycled or renewable resources annually by 2030."Ģ3 Oaks Investments is a strategic solution provider in the upcycling of post-consumer recycled (PCR) plastic waste with extensive experience in the plastics industry. We are taking an important first step into the upstream side of the business to secure access to plastic waste that we will convert into new plastic materials at our advanced recycling plants. "To truly achieve a circular economy, we have to find creative solutions to meet society's needs.
"We are committed to supporting our customers to meet their demand for renewable and circular solutions," says Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. Both projects contribute to LyondellBasell's sustainability ambition to end plastic waste in the environment. The final investment decision on this project is scheduled for the coming months. Once in operation, it will enable recycling of most types of plastic materials such as multi-layered food packaging items or mixed plastic containers. LyondellBasell's new plant is designed to convert hard-to-recycle post-consumer plastic waste into feedstock for new plastic materials. LyondellBasell already operates a semi-industrial scale MoReTec plant at its Ferrara, Italy, site. Using LyondellBasell's proprietary MoReTec technology, this plant will be the first commercial scale, single-train advanced recycling plant, designed to demonstrate its capability for further scalability. The Source One Plastics facility will produce processed waste that will provide a material part of the feedstock for an advanced recycling plant that LyondellBasell plans to build at its Wesseling, Germany, site. This waste is not recycled today and is mostly incinerated.
Using renewable energy from wind and biomass, the new unit is designed to process the amount of plastic packaging waste generated by approximately 1.3 million German citizens per year. 11, 2022 /PRNewswire/ - LyondellBasell and 23 Oaks Investments, Leiferde/Lower Saxony, Germany, signed an agreement to create Source One Plastics, a joint venture that will build an energy efficient, advanced plastic waste sorting and recycling facility in Germany.
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