LyondellBasell Launches New Product Grades of CirculenRecover in North America

Rhea-AI Summary

LyondellBasell launches eight new product compounds under the CirculenRecover portfolio, offering up to 100% Post-Consumer Resin (PCR) content. The products are designed for applications such as blown film and caps and closures, providing high-quality products while promoting sustainability. These new compounds are part of the company's goal to produce and market two million metric tons of recycled and renewable-based polymers annually by 2030.

Positive

• LyondellBasell expands its product portfolio with the launch of eight new CirculenRecover compounds, offering up to 100% PCR content. This supports the company's sustainability goals and enhances its offerings for blown film and caps and closures applications.

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• None.

Originally published on August 29, 2023

HOUSTON, TX / ACCESSWIRE / September 14, 2023 / LyondellBasell (NYSE: LYB) announced the launch of eight new product compounds under the CirculenRecover portfolio. These products can help customers achieve circularity in their use of plastic packaging by increasing usage of recycled content and diverting more plastic from landfill or incineration.

The CirculenRecover brand includes products containing up to 100 percent Post-Consumer Resin (PCR) that are designed to meet the performance requirements of many common applications.

"With the new CirculenRecover product compounds, customers focused on applications such as blown film or caps and closures are able to deliver high-quality products while reaching their sustainability goals," said Wisdom Dzotsi, senior director, Circular & Low Carbon Solutions Americas for LyondellBasell. "As we continue to innovate our products and solutions, we focus on the needs of our customers while striving to progress the circular value chain."

Now available in North America, these new compounds in the CirculenRecover portfolio offer single-pellet solutions across a range of PCR levels to fit brand owners' needs. While the products provide value in a wide variety of end uses, they are particularly well suited for industrial and food packaging applications including consumer rigid and flexible packaging such as caps, closures, crates, bottles or film.

Benefits of the CirculenRecover compounds include:

• Carefully screened raw materials to ensure quality and product safety
• Improved consistency and processability versus dry blends
• Formulated to provide the optimal PCR content per application and brand goal

These new solutions are part of the broader Circulen product portfolio announced by the company in 2021. 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 the more difficult to recycle plastic waste into feedstock to produce new polymers, which have a wide range of uses; and
• CirculenRenew polymers are sourced from renewable feedstocks such as used cooking oil, which have a wide range of uses.

This announcement supports the company goal of producing and marketing at least two million metric tons of recycled and renewable-based polymers annually by 2030.

The new LyondellBasell CirculenRecover grades are currently available in North America. For more information on CirculenRecover, click here.

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.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

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 to meet our targets and forecasts. 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, 2022, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission's website at www.sec.gov. There is no assurance that any of the actions, events or results of the forward-looking statements will occur, or if any of them do, what impact they will have on our results of operations or financial condition. Forward-looking statements speak only as of the date they were made and are based on the estimates and opinions of management of LyondellBasell at the time the statements are made. LyondellBasell does not assume any obligation to update forward-looking statements should circumstances or management's estimates or opinions change, except as required by law.

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SOURCE: LyondellBasell

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