ExxonMobil Tests Advanced Recycling of Plastic Waste at Baytown Facilities

Rhea-AI Summary

ExxonMobil has completed an initial plant trial of its advanced recycling process aimed at converting plastic waste into high-value polymers at its Baytown, Texas facility. This marks a significant step in ExxonMobil's commitment to address plastic waste while maximizing resource recovery. Plans are in place to scale this technology globally based on trial results. The company has secured ISCC+ certification for its recycled products and intends to market certified circular plastics later this year. Additionally, it has formed a joint venture with Agilyx Corporation focused on enhancing plastic waste processing.

Positive

• Successful completion of initial advanced recycling trial at Baytown facility.
• Plans for global scaling of advanced recycling capabilities.
• Secured ISCC+ certification for products from the trial, enabling market readiness.
• Joint venture with Agilyx Corporation aimed at improving plastic waste processing.

Negative

• None.

ExxonMobil has completed the initial phase of a plant trial of a proprietary advanced recycling process for converting plastic waste into raw materials for production of high-value polymers. The trial, at the company’s existing facilities in Baytown, Texas, marks another step in ExxonMobil’s efforts to help reduce plastic waste in the environment and maximize resource recovery.

ExxonMobil intends to use results from the Baytown trial to scale-up advanced recycling capabilities at other global facilities, targeting a circular solution for converting difficult-to-recycle plastic waste into feedstock for virgin-quality plastic.

“ExxonMobil is taking action to help address the issue of plastic waste,” said Karen McKee, president of ExxonMobil Chemical Company. “This advanced recycling initiative brings together the strength of ExxonMobil’s integrated petrochemical facilities and our deep technology expertise in chemical processing to capture value from plastic waste and meet our customers’ growing demand for high-performance, certified circular polymers.”

ExxonMobil has already obtained certifications through the International Sustainability and Carbon Certification Plus (ISCC+) process. ISCC+ is widely recognized by industry as an effective system to certify products that result from advanced recycling of plastic waste. Pending a successful completion of the next phase of the Baytown plant trial, the company plans to market commercial volumes of certified circular plastics later this year.

ExxonMobil has also formed a joint venture with Agilyx Corporation, Cyclyx International LLC, focused on developing innovative solutions for aggregating and pre-processing large volumes of plastic waste that can be converted into feedstocks for valuable products. Cyclyx will help supply ExxonMobil’s advanced recycling projects, and will aim to do the same for other customers.

The company supports making the most of resources and minimizing waste, which are the underlying principles of the circular economy concept. Advanced recycling, along with innovation and new processes, will play an important role in reducing plastic waste.

ExxonMobil is founding member of the Alliance to End Plastic Waste, which is focused on accelerating investment in safe, scalable and economically viable solutions to help address the challenge of plastic waste in the environment.

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 and the Energy Factor.

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Cautionary Statement

Statements of future events or conditions in this release are forward-looking statements. Actual future results, including project plans, test results, scaling and expanding current research, the impacts of new technologies, and the creation of new sources of supply for industrial processes, could vary depending on the outcome of further research and testing; the development and competitiveness of alternative technologies; the ability to scale pilot projects on a cost-effective basis; political and regulatory developments; and other factors discussed in this release, in Item 1A. “Risk Factors” in ExxonMobil’s Annual Report on Form 10-K for 2020, and under the heading “Factors Affecting Future Results” on the Investors page of ExxonMobil’s website at www.exxonmobil.com.

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FAQ

What is ExxonMobil's recent advanced recycling initiative?

ExxonMobil has completed an initial trial of its advanced recycling process to convert plastic waste into high-value polymers, aiming to scale this technology globally.

What are the results from the Baytown trial for ExxonMobil?

The Baytown trial has successfully demonstrated the conversion of plastic waste into feedstock for producing certified circular plastics.

How does ExxonMobil plan to market its advanced recycling products?

ExxonMobil intends to market commercial volumes of certified circular plastics later this year after successful completion of the trial.

What is the significance of ISCC+ certification for ExxonMobil?

ISCC+ certification allows ExxonMobil to provide assurance that its advanced recycling products meet industry standards for sustainability.

What is the role of Cyclyx International LLC in ExxonMobil's recycling efforts?

Cyclyx International LLC is a joint venture formed by ExxonMobil and Agilyx Corporation to enhance the aggregation and processing of plastic waste for recycling.