LyondellBasell Launches Family of Circulen Products to Advance Circular Solutions

Rhea-AI Summary

LyondellBasell (NYSE: LYB) announced the launch of the Circulen product suite aimed at enhancing sustainability in consumer products. This initiative is part of its goal to produce 2 million metric tons of recycled and renewable-based polymers annually by 2030. The Circulen portfolio includes three categories: Circulen Recover, Circulen Revive, and Circulen Renew, which utilize recycled and renewable materials. The products are currently available in Europe and will expand to North America and China.

Positive

• Launch of the Circulen product suite supports sustainability goals.
• Target to produce 2 million metric tons of recycled and renewable polymers by 2030.
• Circulen products utilize innovative recycling processes, reducing plastic waste.
• Products currently used in well-known brands, promoting market adoption.

Negative

• None.

ROTTERDAM, The Netherlands, April 12, 2021 /PRNewswire/ -- LyondellBasell (NYSE: LYB) today announced the launch of a suite of products under the name Circulen enabling brand owners to improve the sustainability of consumer products. This announcement marks the next step in LyondellBasell delivering on its sustainability goal of producing and marketing two million metric tons of recycled and renewable-based polymers annually by 2030, which is one of the most ambitious goals in the industry.

The LyondellBasell Circulen product family supports the reduction of plastic waste through the use of recycled content, and a lower carbon footprint through the use of renewable-based content as compared to feedstock from fossil-based sources. The Circulen product portfolio includes:

• CirculenRecover polymers are made from plastic waste through a mechanical recycling process;
• CirculenRevive polymers are made using an advanced (molecular) recycling process to convert plastic waste into feedstock to produce new polymers, which have a wide range of uses; and
• CirculenRenew polymers are made from renewable feedstocks such as used cooking oil, which have a wide range of uses.

To help achieve the company's ambitions, LyondellBasell is implementing a multi-pronged approach to advance the circular economy by bringing sustainable solutions to life.

"With the new Circulen product portfolio, we are taking concrete action to advance the circular economy today, innovate for the future and partner across the value chain," said Ken Lane, LyondellBasell Executive Vice President Global Olefins and Polyolefins. "Our ambition is bold, yet necessary, and we are committed to doing our part to help address the global challenges of plastic waste in the environment and climate change while meeting customer and brand owner needs."

The launch of the new Circulen portfolio follows several recent announcements focused on LyondellBasell's circular economy ambitions:

• Expanding the Quality Circular Polymers mechanical recycling joint venture portfolio to include both post-consumer and post-industrial recycled plastic;
• Extending future innovation in advanced (molecular) recycling with LyondellBasell's MoReTec technology and the start-up of a pilot facility;
• Utilizing renewable-based feedstocks comprised of waste and cooking oils to produce plastic products that help reduce CO2 over the product life cycle; and
• Securing International Sustainability and Carbon Certification (ISCC) PLUS certification of our European cracker and polymer sites.

The LyondellBasell Circulen portfolio is currently available in Europe and will soon be introduced in North America and China. Circulen products are presently used in the new Samsonite Magnum Eco suitcase line, and garden equipment (e.g., watering cans). For more information on Circulen, click here.

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About LyondellBasell

LyondellBasell (NYSE: LYB) is one of the largest plastics, chemicals and refining companies in the world. Driven by its employees around the globe, LyondellBasell produces materials and products that are key to advancing solutions to modern challenges like enhancing food safety through lightweight and flexible packaging, protecting the purity of water supplies through stronger and more versatile pipes, improving the safety, comfort and fuel efficiency of many of the cars and trucks on the road, and ensuring the safe and effective functionality in electronics and appliances. LyondellBasell sells products into more than 100 countries and is the world's largest producer of polypropylene compounds and the largest licensor of polyolefin technologies. In 2021, LyondellBasell was named to FORTUNE Magazine's list of the "World's Most Admired Companies" for the fourth consecutive year. More information about LyondellBasell can be found at www.lyondellbasell.com.

 

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SOURCE LyondellBasell

FAQ

What is the <i>Circulen</i> product suite by LYB?

Circulen is a new product suite that promotes sustainability through recycled and renewable materials.

What are the goals of LyondellBasell by 2030?

LyondellBasell aims to produce 2 million metric tons of recycled and renewable-based polymers annually by 2030.

Where are <i>Circulen</i> products currently available?

Circulen products are available in Europe and will soon expand to North America and China.

What types of products are included in the <i>Circulen</i> portfolio?

Circulen includes Recover, Revive, and Renew polymers made from recycled and renewable materials.

How does the <i>Circulen</i> product suite impact plastic waste?

The Circulen suite helps reduce plastic waste through the use of recycled content and lower carbon footprint.