LYB to build integrated plastic waste recycling hub in Knapsack

Rhea-AI Summary

LyondellBasell (LYB) is set to build an integrated plastic waste recycling hub in Knapsack, Germany, in partnership with YNCORIS GmbH & Co. KG. The hub will include advanced sorting and recycling operations to tackle plastic waste challenges and promote the circular economy. The project will cover an area equivalent to 20 soccer fields and is expected to produce feedstock for mechanical and advanced recycling. The hub aims to process mixed plastic waste that is currently not recycled, with the initial sorting facility expected to start operations in the first quarter of 2026. LyondellBasell plans to produce and market 2 million metric tons of recycled and renewable-based polymers annually by 2030.

Positive

• LyondellBasell is expanding its recycling capabilities by building an integrated plastic waste recycling hub in Knapsack, Germany.

Negative

• The project may face delays or challenges in meeting its production targets by 2030.

WESSELING, Germany, April 29, 2024 /PRNewswire/ -- LyondellBasell (LYB) has secured a location for an integrated plastic waste recycling hub south of an existing industrial park in Knapsack, Germany, signing a land lease agreement with YNCORIS GmbH & Co. KG. The hub is planned to combine various advanced sorting and recycling operations, helping to address the plastic waste challenge and grow the circular economy. The project will be developed in phases; the initial phase will see the construction of an advanced sorting facility that will process mixed plastic waste to produce feedstock for mechanical and advanced recycling. This mixed plastic waste is not recycled today and mostly sent to incineration for energy recovery.

In total, the integrated recycling hub will cover an area equivalent to 20 soccer fields. It is expected that the hub's initial advanced sorting facility will start operations in the first quarter of 2026. These new investments support the company's ambition to produce and market at least 2 million metric tons of recycled and renewable‑based polymers annually by 2030.

"The industrial park in Knapsack is the ideal location for our integrated hub as is it close to our world-scale facilities in Wesseling and will allow us to develop additional technologies for the recycling of plastic waste," says Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. "The integration of various technologies will allow us to build scale and offer our customers a wide range of products from recycled and renewable resources."

"The integrated recycling hub will also produce feedstock for the advanced recycling unit the company will build at its Wesseling site," says interim Wesseling-Knapsack site manager Stephan Staender. "The new hub will also provide opportunities for synergies with the company's mechanical recycling facility in Geleen, Netherlands and the company's polypropylene compounding facility in Knapsack."

"This move to our expansion site in the industrial park in Knapsack is a key building block in the transformation of the chemical industry in Germany to a circular economy," says Ralf Müller, CEO of YNCORIS. His fellow Managing Director Christoph Kappenhagen adds: "Over the years, the site has undergone continuous development; the people here have never rested on their laurels, but have always made a significant contribution to leading the site into the future with their innovative potential."

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.LYB.com or follow @LyondellBasell on LinkedIn.

About Yncoris
As one of the leading industrial service providers, YNCORIS is the ideal partner for the chemical-pharmaceutical industry. With our 1200 employees and 100 trainees, we develop the right solution for every challenge, from planning, building, and operating to maintaining. Through our young-spirited and entrepreneurial mindset, mixed with the know-how from over a hundred years of industrial experience, we provide the optimum environment for future-proof production. While we are headquartered in Hürth, our strategically located additional locations in Dormagen, Duisburg, Düren, Cologne, Krefeld, and Leverkusen allow us to be closer to our customers. Our range of services covers the entire lifecycle of industrial facilities, from planning and construction to efficient and legally compliant operation, as well as future-oriented plant maintenance. At YNCORIS, we are dedicated to helping our customers thrive in the market today and tomorrow.
You can find further information at www.yncoris.com

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, 2023, which can be found at www.LYB.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lyb-to-build-integrated-plastic-waste-recycling-hub-in-knapsack-302128718.html

SOURCE Lyondell Chemical Company

FAQ

Where is LyondellBasell (LYB) building an integrated plastic waste recycling hub?

LyondellBasell is constructing the hub in Knapsack, Germany.

What is the expected capacity of the recycling hub?

The hub aims to produce and market at least 2 million metric tons of recycled and renewable-based polymers annually by 2030.

When is the initial sorting facility expected to start operations?

The initial phase of the hub is set to start operations in the first quarter of 2026.

Who is LyondellBasell partnering with for the project?

LyondellBasell has signed a land lease agreement with YNCORIS GmbH & Co. KG for the project.

What is the significance of the Knapsack location for the hub?

The Knapsack location offers proximity to LyondellBasell's existing facilities in Wesseling, enabling the development of additional recycling technologies.