Chemical company LyondellBasell has agreed with 23 Oaks Investments to establish Source One Plastics.
The joint venture is to build a sorting and pre-treatment plant for plastic waste in Germany, which will run on renewable energy from wind and biomass and supply input material for Lyondellbasell's planned chemical recycling plant at its Wesseling site. The MoReTec recycling process developed by LyondellBasell would be used in Wesseling and has already been tested in a pilot plant in Ferrara, Italy, since 2020, LyondellBasell says. The company is also reportedly involved in the mechanical recycling of plastic waste. It holds a 50 percent stake in Dutch company Quality Circular Polymers (QCP) and also announced a joint venture together with Genox Recycling in China for mechanical recycling of plastic waste.
Sources:
- Euwid 42/2022 (Oct. 18, 2022)
- Plasticker (Oct. 20, 2022)
- Photo: © LyondellBasell
