HOUSTON, Nov. 20,
2023 /PRNewswire/ -- LyondellBasell (LYB) today
announced it has made the final investment decision to build the
company's first industrial-scale catalytic advanced recycling
demonstration plant at its Wesseling, Germany, site. Using LyondellBasell's
proprietary MoReTec technology, this plant will be the first
commercial scale, single-train advanced recycling plant to convert
post-consumer plastic waste into feedstock for production of new
plastic materials that can be ran at net zero GHG emissions. The
new plant is expected to have an annual capacity of 50,000 tonnes
per year and is designed to recycle the amount of plastic packaging
waste generated by over 1.2 million German citizens per year.
Construction is planned to be completed by the end of 2025.
"We are committed to addressing the global challenge of plastic
waste and advancing a circular economy, and today's announcement is
another meaningful step in that direction," says Peter Vanacker, LYB CEO. "Scaling up our
catalytic advanced recycling technology will allow us to return
larger volumes of plastic waste back into the value chain. By doing
this, we will have the ability to produce more materials for
high-quality applications, retaining value of plastics for as long
as possible."
The LYB MoReTec demonstration plant will close the gap
for difficult to recycle plastics, such as mixed or flexible
materials that are currently sent to landfill or incineration.
Source One Plastics, a joint venture of LYB and 23 Oaks Investments
formed in October 2022, will supply
the majority of the sorted processed feedstock. The advanced
recycled feedstock produced by the MoReTec facility will be
used for the production of polymers sold by LYB under the
CirculenRevive product line for use in a wide range of
applications, including medical and food packaging.
The MoReTec difference
The MoReTec technology produces pyrolysis oil and
pyrolysis gas. Pyrolysis oil is a substitute for fossil-based
materials used in polymer production. Typically, pyrolysis
gas streams are consumed as a fuel, however, the MoReTec
technology enables the pyrolysis gas to be recovered as well,
contributing to the production of polymer and displacing
fossil-based feedstocks, which lowers direct CO2
emissions.
In addition, the proprietary catalyst technology lowers the
process temperature, reduces energy consumption and improves
yield. With lower energy consumption, the process can be
powered by electricity, including electricity from renewable
sources at net zero GHG emissions.
These differentiating advantages provide a carbon footprint
advantage as well. The recovery of pyrolysis gas as feedstock,
lower energy demand, electrical heating design, displacement of
fossil-feedstocks, and recovery of waste plastic from incineration
or landfill result in a significantly lower carbon footprint
compared with fossil-based processes. This makes MoReTec a
unique value proposition.
ABOUT LYONDELLBASELL
We are LyondellBasell (NYSE: LYB)
– 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 STATEMENTS
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. Actual
results could differ materially based on factors including, but not
limited to, our ability to meet our sustainability goals, including
the ability to increase production of recycled and renewable-based
polymers; the successful implementation of growth plans; and the
successful construction and operation of the facilities described
in this release. 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 Investor Relations page
and on the Securities and Exchange Commission's website
at www.sec.gov.
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SOURCE LyondellBasell