Chemical industry company LyondellBasell has invested in recycling company Stiphout Industries, which sources and processes post-consumer plastic packaging waste.
Operating in Montfort, the Netherlands, the company has an annual processing capacity equivalent that is reportedly equivalent to the amount of plastic packaging waste generated by over 500,000 Dutch citizens every year.
It was founded in 2015 and focuses on processing plastic household waste into clean flakes of recycled polypropylene (PP) and high-density polyethylene (HDPE) materials.
LyondellBasell executive vice president of circular and low carbon solutions Yvonne van der Laan commented: “Investing in Stiphout aligns with our strategy to invest in recycling and plastic waste processing companies that support our existing assets in the Netherlands and Germany and fits with our integrated hub model.
“Through this collaboration, we can leverage local synergies with our quality circular polymers business in terms of logistics and operations. It also unlocks possibilities to further expand our CirculenRecover portfolio, creating solutions for customers and brand owners in support of their circular and low-carbon targets”.
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LyondellBasell recently acquired compound manufacturer Mepol Group, aiming to strengthen its production of at least 2mn metric tons of polymers from recycled or renewable sources annually by 2030.
The company also announced a joint venture with AD Nord to enhance the recycling of post-commercial flexible secondary packaging waste.