LyondellBasell Acquires PreZero's California Machinery Recycling Assets

LyondellBasell has acquired US mechanical recycling assets containing rigid plastics recycling processing lines from recycling and waste management services provider PreZero. LyondellBasell said the transaction includes leasing a processing facility in Jurupa Valley, California, with a recycling material capacity of approximately 23 million kilograms per year.

Yvonne van der Laan, Executive Vice President Circular and Low Carbon Solutions at LyondellBasell said: "This acquisition further strengthens our presence in the United States and will bring value to our customers and increase plastic recycling rates on the West Coast.""We will leverage existing experience in plastics recycling in Europe to provide state-of-the-art mechanical recycling facilities to meet the growing demand for recycled products in the United States. "

According to LyondellBasell, the company plans to operate its newly-acquired mechanical recycling plant in California to manufacture post-consumer recycled resins using plastic waste feedstock. The recycled polymer will be available under the CirculenRecover brand, part of the company's Circulen portfolio of products that support the circular economy. The new plant is expected to begin operations in 2025.

LyondellBasell said the deal, which did not disclose financial details, supports the company's efforts to build a circular economy for plastics, help eliminate plastic waste from the environment and meet growing customer demand for sustainable products.

In October 2023, LyondellBasell has acquired a 25% stake in Cyclyx International, a joint venture between Agilyx and ExxonMobil, and the company is working with industry players to develop innovative recycling solutions for all types of post-consumer plastics.