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Issue 20, 2022 - LyondellBassel and 23 Oaks Investments form a joint venture

 Last Update: 2022-12-29
 Source: Internet
 Author: User

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LyondellBassel and 23 Oaks Investments form a joint venture

LyondellBasell and 23 Oaks Investments have signed an agreement to create a joint venture, Source One Plastics
.
It will build an energy-efficient, state-of-the-art plastic waste sorting and recycling facility
in Germany.

The new facility uses renewable energy from wind and biomass to process around 1.
3 million people in Germany every year for plastic packaging waste
.
The new plant in LyondellBassel is dedicated to converting hard-to-recycle post-consumer plastic waste into raw materials
for making new plastics.
Once the facility is operational, most plastic materials, such as multi-layer food packaging or mixed plastic containers, can be recycled
.
Final investment decisions regarding the project will be made
in the coming months.

The Source One Plastics plant will produce treated waste to provide vital feedstock
for the advanced recycling plant that LyondellBassel plans to build in Wessering, Germany.
Using LyondellBasel's proprietary MoReTec technology, the plant will be the first commercial-scale single-scale advanced recycling plant, specifically designed to demonstrate its ability
to scale further.

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