Plastic Recycling : LyondellBasell forms joint venture to advance plastic waste recycling

Oct 12, 2022
Reading time: about 2 minutes
LyondellBasell and 23 Oaks Investments 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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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. This waste is not recycled today and is mostly incinerated.
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 proprietary MoReTec technology, this plant will be the first commercial scale, single-train advanced recycling plant, 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.

23 Oaks Investments is a strategic solution provider in the upcycling of post-consumer recycled (PCR) plastic waste with extensive experience in the plastics industry. 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.

In addition to its advanced recycling semi-industrial scale plant, LyondellBasell holds a 50% share in Quality Circular Polymers (QCP). 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.

Post Date
Oct 12, 2022
Last Update
Oct 12, 2022

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