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LyondellBasell acquires 25 percent of Cyclyx joint venture for plastic recycling

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LyondellBasell acquires 25 percent of Cyclyx joint venture for plastic recycling

Cyclyx International LLC, a joint venture between Norway-based Agilyx ASA and Texas-based ExxonMobil, says Netherlands-based chemical company LyondellBasell has acquired 25 percent equity ownership of the joint venture. Cyclyx says the addition of LyondellBasell to the partnership, initially formed in late 2020, further accelerates innovation and development of the necessary infrastructure for a nationwide circular economy for plastics.

Source: RecyclingToday

Investing in plastic waste value chain experts such as Cyclyx, together with Agilyx and ExxonMobil, helps create the robust supply chains we all need to increase access to circular and renewable feedstocks. This collaboration unlocks the necessary scale of recycled material and infrastructure for our planned integrated Circular and Low Carbon Solutions Hub in the Houston area and aligns with our purpose of creating solutions for everyday sustainable living.

Yvonne van der Laan, LyondellBasell executive vice president, circular and low carbon solutions

In addition, Cyclyx says it is expanding its business model from a strict licensing model to include a build, own and operate option for Cyclyx Circularity Centers (CCCs). This business model expansion will enable Cyclyx to control the custody and quality of custom-blended feedstocks from sourcing through delivery. Cyclyx also believes this expanded business model will accelerate the collection of postuse plastics to increase recycling in more communities and businesses nationwide.

We are excited by and welcome the inclusion of LyondellBasell in the ownership of Cyclyx. Headquartered in Houston, LyondellBasell is a respected global leader that shares our vision of a more sustainable future. We are uniquely positioned to enable their sustainability goals for plastic circularity.

Joseph Vaillancourt, CEO of Portsmouth, New Hampshire-based Cyclyx

Cyclyx says it also will use the Cyclyx Circularity Labs to further expand its chemical characterization database to understand how to best manage contamination in, and utilization of, postuse plastics, accelerating progress of the 10to90 mission. This technology approach identifies plastic type; added ingredients, such as metal linings or coloring; ideal manufacturing methods; and contamination to meet the unique specifications of customers, while ensuring the quality of the feedstock and integrity of International Sustainability and Carbon Certification (ISCC) Plus.

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