NETHERLANDS – Dutch chemical company LyondellBasell has signed a definite long-term supply agreement with Atlanta-based Nexus Circular to receive approximately 24,000 tonnes of recycled feedstock annually.
The material will be produced at Nexus Circular’s new advanced recycling facility, which will begin construction in 2023.
The new facility will convert mixed plastic waste, which today mostly ends up in landfills or incineration, into recycled feedstock.
LyondellBasell says it plans to use Nexus Circular’s recycled feedstock at its Channelview, Texas, facility to produce new plastics, which will be marketed under its CirculenRevive brand.
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, utilizes 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 organizations.
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 signed an agreement with KIRKBI, to invest in solvent-based recycling technology provider APK.
APK aims to increase the recycling of multi-layer flexible packaging materials, which today make up the majority of mixed plastic waste from the consumer sector.
The firm is known for its unique solvent-based recycling technology for low-density polyethylene (LDPE), Newcycling process.
Meanwhile, Nexus circular raised US$150 million in seed funding, in January, to expedite the growth of advanced recycling solutions for plastics.
The company said it will use the funds to fulfill recycled-plastic commitments by accelerating the development of its advanced recycling methods.
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