ROTTERDAM, Netherlands, June 29,
2023 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today
announced its investment in a new Carbon Neutrality Fund led by
Chrysalix Venture Capital. The fund will support emerging companies
developing and deploying new low-carbon technologies, focusing on
hard-to-abate sectors, such as the chemicals industry. These
investments expand LyondellBasell's venture capital activities to
help advance its ambitious sustainability goals.
"Sustainability is integrated into our business strategy, and we
are confident the Carbon Neutrality Fund will help us advance our
industry-leading climate goals, as we create value, and develop
products and solutions that contribute to a better tomorrow," said
Jim Seward, executive vice president
and chief innovation officer at LyondellBasell. "Chrysalix Venture
Capital has an established track record of investing in new climate
technologies and a strong focus on developing innovative solutions
for hard-to-abate sectors, including chemicals."
"We are pleased to welcome LyondellBasell and other leading
international investors to the Carbon Neutrality Fund," said
Fred van Beuningen, Managing Partner
at Chrysalix Venture Capital. "Working closely with our Limited
Partners, the Fund will connect leading companies with outstanding
entrepreneurs, linking market driven problems to innovative
solutions while seizing the value creation opportunity of carbon
neutrality. Technologies that support carbon neutrality offer a
value creation and a new business opportunity, companies with a
proactive carbon strategy will create long term sources of
differentiation."
In addition to Chrysalix, LyondellBasell has invested in Closed
Loop Circular Plastics Fund, Infinity Recycling, and HX Venture.
These venture capital funds are focused on accelerating the
development of infrastructure and recycling technologies needed to
address plastic waste challenges in North
America, Europe, and
Asia. These investments align with
the company's goal that for every dollar LyondellBasell invests in
venture funds addressing critical sustainability challenges, the
company helps catalyze another five
dollars from co-investors.
About LyondellBasell
We are LyondellBasell – a leader
in the global chemical industry creating solutions for everyday
sustainable living. Through advanced technology and focused
investments, we are enabling a circular and low carbon economy.
Across all we do, we aim to unlock value for our customers,
investors and society. As one of the world's largest producers of
polymers and a leader in polyolefin technologies, we develop,
manufacture and market high-quality and innovative products for
applications ranging from sustainable transportation and food
safety to clean water and quality healthcare. For more information,
please visit www.lyondellbasell.com or follow @LyondellBasell on
LinkedIn.
Forward-Looking Statement for LyondellBasell
The
statements in this release relating to matters that are not
historical facts are forward-looking statements. 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.
When used in this release, the words "believe," "may," "will,"
"expect," and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain such identifying words. Actual results could
differ materially based on factors including, but not limited to,
our ability to successfully develop or deploy low-carbon
technologies, meet our sustainability goals or connect with other
leading companies and entrepreneurs. Additional factors that could
cause results to differ materially from those described in the
forward-looking statements can be found in the "Risk Factors"
section of our Form 10-K for the year ended December 31, 2022, which can be found at
www.LyondellBasell.com on the Investors page and on the Securities
and Exchange Commission's website at www.sec.gov.
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SOURCE LyondellBasell