By: ICN Bureau
Last updated : October 29, 2023 9:18 am
Joining Agilyx and ExxonMobil to accelerate plastic waste recycling
Cyclyx International, a joint venture between Agilyx and ExxonMobil, announces LyondellBasell has acquired 25% equity ownership of the joint venture (JV). LyondellBasell joining Cyclyx, which was formed in December 2020, further accelerates innovation and development of the necessary infrastructure for a nationwide circular economy for plastics.
"Investing in plastic waste value chain experts such as Cyclyx, together with Agilyx and ExxonMobil, helps create the robust supply chains we all need to increase access to circular and renewable feedstocks," says Yvonne van der Laan, LyondellBasell executive vice president, Circular and Low Carbon Solutions. "This collaboration unlocks the necessary scale of recycled material and infrastructure for our planned integrated Circular and Low Carbon Solutions Hub in the Houston area and aligns with our purpose of creating solutions for everyday sustainable living."
"We are excited by and welcome the inclusion of LyondellBasell in the ownership of Cyclyx," says Joseph Vaillancourt, CEO of Cyclyx. "Headquartered in Houston, LyondellBasell is a respected global leader that shares our vision of a more sustainable future. We are uniquely positioned to enable their sustainability goals for plastic circularity."