LyondellBasell will use the recycled feedstock to create new plastics in its factory in Channelview, Texas, that will be marketed under the CirculenRevive brand
Nexus Circular to supply recycled feedstock to LyondellBasell. (Credit: LyondellBasell Industries Holdings B.V.)
Dutch chemical company LyondellBasell has signed a definite long-term supply agreement with Atlanta-based Nexus Circular to receive approximately 24,000 tons of recycled feedstock annually.
The recycled feedstock will be created in the new advanced recycling facility being built by Nexus Circular.
The new facility, which is scheduled to start construction in 2023, will recover mixed plastic waste, which currently primarily goes to landfills or cremation.
The chemical firm will use the recycled feedstock to create new plastics in its factory in Channelview, Texas. The plastics will be marketed under the CirculenRevive name.
LyondellBasell circular and low carbon solutions EVP Yvonne van der Laan said: “Customers and brand owners need sustainable solutions to meet their 2030 recycling commitments, and this contract is a concrete step toward advancing partnerships across the value chain.
“This agreement is aligned with our circularity ambitions, advancing us closer to our 2030 goal.”
Nexus Circular, an advanced recycling company, utilises proprietary technology to transform used and other hard-to-recycle plastics into high-quality liquids to make virgin-quality circular plastics.
The recycling firm supplies commercial volumes of International Sustainability & Carbon Certification (ISCC) Plus-certified circular liquid products.
Since 2018, the firm has stopped over eight million pounds of used plastics from going into landfill. The firm secures these plastics from sustainability-minded companies and recycling organisations.
Nexus chief commercial officer Clint Thompson said: “We are pleased to collaborate with LyondellBasell to leverage our proven commercial solution that unlocks the full value of plastics and accelerates the transition to a circular economy.”
The Dutch chemical company is making its products, materials and technologies more sustainable for food safety, access to clean water, healthcare and fuel efficiency in around 100 global markets.
Earlier this month, LyondellBasell and investment company KIRKBI, along with other co-investors announced an investment of €130m in recycling technology company APK.
APK is known for its solvent-based recycling technology for low-density polyethylene (LDPE). The funds will be used to construct Newcyling Plants to increase the production capacity.