LyondellBasell has signed an agreement with 23 Oaks Investments to establish Source One Plastics, a JV that will construct a sorting and plastic waste recycling facility in Germany.
The new facility will be able to process plastic packaging waste produced by around 1.3 million people each year.
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This facility will be powered by clean energy, such as wind and biomass.
The material part of the feedstock for the advanced recycling plant that LyondellBasell intends to construct at its Wesseling site will come from waste processed at the Source One Plastics facility.
This advanced facility is claimed to become the first commercial scale, single-train recycling facility that will use LyondellBasell’s proprietary MoReTec technology.
LyondellBasell currently operates a semi-industrial scale MoReTec facility at Ferrara, Italy.
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By GlobalDataThe new facility of LyondellBasell is intended to convert hard-to-recycle post-consumer plastic waste into feedstock for new plastic materials.
On becoming operational, the facility will be able to recycle most kinds of plastic products, such as multi-layered food packaging items or mixed plastic containers.
The project’s final investment decision will be taken in the months to come.
LyondellBasell executive vice president for circular and low carbon solutions Yvonne van der Laan said: “We are committed to supporting our customers to meet their demand for renewable and circular solutions.
“To truly achieve a circular economy, we have to find creative solutions to meet society’s needs. 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. This will enable us to meet our circularity ambition and produce two million tonnes of polymers from recycled or renewable resources annually by 2030.”
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Image: Matthijs Beijk of LyondellBasell and Kai Hoyer of 23 Oaks Investment sign the agreement to form Source One Plastics. Credits: LyondellBasell Industries /PRNewswire.
