ExxonMobil Makes First Commercial Sale of Certified Circular Polymers

Rhea-AI Summary

ExxonMobil has successfully completed its first commercial sale of certified circular polymers using its Exxtend™ advanced recycling technology. The initial sale involves Berry Global, who will use these polymers for food-grade packaging. ExxonMobil's facility in Baytown, Texas, has processed over 4 million pounds of plastic waste and aims to expand its certified circular polymer capacity to 1 billion pounds annually by 2026. This expansion is part of ExxonMobil's strategy to enhance sustainability efforts in the packaging sector.

Positive

• First commercial sale of certified circular polymers completed.
• Plans to increase global circular polymer capacity to 1 billion pounds by 2026.
• More than 4 million pounds of plastic waste already processed at Baytown facility.
• Collaboration with Berry Global to produce sustainable food-grade packaging.

Negative

• None.

• Exxtend™ advanced recycling technology produces commercial volumes of certified circular polymers for food applications
• More than 4 million pounds of plastic waste processed at advanced recycling facility in Baytown, Texas
• ExxonMobil plans to increase its global certified circular polymer capacity to 1 billion pounds per year by 2026

IRVING, Texas--(BUSINESS WIRE)-- ExxonMobil has completed its first commercial sale of certified circular polymers, using its Exxtend™ technology for advanced recycling of plastic waste. The purchaser is Berry Global, a leading provider of innovative packaging and engineered products, which will use the circular polymers to manufacture containers for high-performance food-grade packaging on a mass balance approach.

“We are scaling up our advanced recycling capabilities around the world to manufacture more circular products for our customers,” said Karen McKee, president of ExxonMobil Chemical Company. “Our Exxtend technology helps us meet the growing demand for certified circular polymers, particularly in food contact applications where plastic products provide key sustainability benefits.”

Exxtend™ technology helps expand the range of plastic materials that society recycles, while maintaining the performance of products over multiple recycling loops. Product quality and performance of the certified circular polymers are identical to polymers produced from virgin raw materials, increasing the variety and number of customer applications.

“We have ambitious sustainable packaging goals that include achieving 30 percent circular content across our fast-moving consumer goods packaging by 2030,” said Tarun Manroa, chief strategy officer of Berry Global. “Advanced recycling can help our customers meet their sustainability goals and accelerate the move to a more circular economy. Collaboration across the value chain is critical to achieving this.”

The initial sale of certified circular polymers is based on plastic waste processed at ExxonMobil’s advanced recycling facility at its integrated site in Baytown, Texas. The facility began operations in 2021 and has already processed more than 4 million pounds of plastic waste.

The operation in Baytown will be among North America’s largest advanced plastic waste recycling facilities with a capacity to recycle 30,000 metric tons of plastic waste per year when its expansion is complete later this year. Leveraging ExxonMobil’s existing assets, the company’s advanced recycling capabilities can be rapidly scaled to process a wide range of plastic waste. To help meet the growing market demand for certified circular plastics, ExxonMobil plans to increase its annual advanced recycling capacity to 500,000 metric tons, or approximately 1 billion pounds, by year-end 2026 across multiple sites globally.

The company has obtained certifications through the International Sustainability and Carbon Certification Plus (ISCC PLUS) process for several of its facilities including Baytown. ISCC PLUS is widely recognized by industry as an effective system to certify the circularity of products based on advanced recycling using mass balance attribution of plastic waste.

About ExxonMobil

ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs. ExxonMobil holds an industry-leading inventory of resources, is one of the largest refiners and marketers of petroleum products, and its chemical company is one of the largest in the world. To learn more, visit exxonmobil.com, the Energy Factor and Carbon capture and storage | ExxonMobil.

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Cautionary Statement: Statements of future plans, targets, and other events or conditions in this release are forward-looking statements. Actual future results, including project plans, timing, capacities, and costs, including recycled waste volumes and growth, could vary depending on the ability to execute operational objectives on a timely and successful basis; the ability to scale projects and technologies on a commercially competitive basis; the outcome of commercial negotiations, including the terms and conditions for the sale of circular polymers; the ability to satisfy requirements of third party certification providers; the outcome of future research and technology development programs, including the future success of collaborative efforts; the development and pace of supportive market conditions and policies including support for waste collection and sorting and advanced recycling; changes in laws and regulations including environmental laws and taxes; changes in plans or objectives prior to final funding decisions or project startups; unforeseen technical or operational difficulties; changes in supply and demand and other market factors affecting future prices of oil, gas, and petrochemical products; and other factors discussed in the “Item 1A. Risk Factors” of our most recent Form 10-K and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at exxonmobil.com.

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Source: Exxon Mobil Corporation

FAQ

What is ExxonMobil's latest announcement regarding circular polymers?

ExxonMobil announced its first commercial sale of certified circular polymers using its Exxtend™ technology.

How much plastic waste has ExxonMobil processed?

ExxonMobil has processed over 4 million pounds of plastic waste at its Baytown, Texas facility.

What are ExxonMobil's goals for circular polymer capacity?

ExxonMobil plans to increase its annual certified circular polymer capacity to 1 billion pounds by 2026.

Who is purchasing ExxonMobil's certified circular polymers?

Berry Global is the first purchaser of ExxonMobil's certified circular polymers for food-grade packaging.