LyondellBasell forms JV to build plastic waste sorting and recycling facility
Canadian Plastics
Materials Recycling SustainabilityThe new plant in Germany is designed to convert hard-to-recycle post-consumer plastic waste into feedstock for new plastic materials.
From left, Matthijs Beijk (LyondellBasell) and Kai Hoyer (23 Oaks Investment) sign the agreement to form Source One Plastics. Photo Credit: Source One Plastics
Resin maker LyondellBasell Industries has signed an agreement with German equity firm 23 Oaks Investments to create a new joint venture called Source One Plastics to build and operate a plastic waste sorting and recycling facility in Germany.
In an Oct. 11 news release LyondellBasell officials said the location will provide plastic feedstock to a its chemical recycling facility in Wesseling, Germany.
“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,” said Yvonne van der Laan, LyondellBasell executive vice president of circular and low carbon solutions in the statement. “To truly achieve a circular economy, we have to find creative solutions to meet society’s needs.”
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. Using LyondellBasell’s MoReTec technology, this plant will be the first commercial scale, single-train advanced recycling plant, LyondellBasell said, designed to demonstrate its capability for further scalability. LyondellBasell already operates a semi-industrial scale MoReTec plant at its Ferrara, Italy, site.
LyondellBasell’s new plant is designed to convert hard-to-recycle post-consumer plastic waste into feedstock for new plastic materials. Once in operation, it will enable recycling of most types of plastic materials such as multi-layered food packaging items or mixed plastic containers. The final investment decision on this project is scheduled for the coming months. Both projects contribute to LyondellBasell’s sustainability ambition to end plastic waste in the environment.
