WESSELING, Germany - LyondellBasell (NYSE:LYB), a global chemical company, has announced a significant step in its sustainability efforts with the leasing of land in Knapsack, Germany, for a new integrated plastic waste recycling hub.
The agreement with YNCORIS GmbH & Co. KG will see the development of a facility designed to advance the recycling of mixed plastic waste, which is currently incinerated for energy recovery.
The hub will span an area equivalent to 20 soccer fields and is part of LyondellBasell's ambition to produce and market at least 2 million metric tons of recycled and renewable-based polymers annually by 2030. The initial phase of the project includes constructing an advanced sorting facility, which is expected to begin operations in the first quarter of 2026.
Yvonne van der Laan, LyondellBasell Executive Vice President of Circular and Low Carbon Solutions, stated that the Knapsack industrial park's proximity to the company's Wesseling facilities makes it an ideal location to develop additional plastic waste recycling technologies.
She emphasized that integrating various technologies at the hub will allow the company to scale up and offer a broader range of recycled and renewable resource products to customers.
The new hub will also contribute to the company's advanced recycling unit planned for the Wesseling site and create synergies with existing facilities in Geleen, Netherlands, and Knapsack. Stephan Staender, interim Wesseling-Knapsack site manager, mentioned the potential for collaboration with the company's mechanical recycling and polypropylene compounding facilities.
YNCORIS CEO Ralf Müller highlighted the Knapsack site's continuous development and its role in transitioning Germany's chemical industry to a circular economy. Christoph Kappenhagen, Managing Director at YNCORIS, praised the innovative potential of the site's workforce in leading the site into the future.
The press release statement indicates that this initiative is part of LyondellBasell's broader strategy to enable a circular and low-carbon economy through advanced technology and strategic investments. The company is one of the world's largest polymer producers and is known for its polyolefin technologies.
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