Multinational chemical company LyondellBasell has announced the acquisition of mechanical recycling assets in California, US, from recycling and waste management service provider, PreZero.
The deal includes leasing the processing facility in Jurupa Valley with an annual production capacity of approximately 50 million pounds of recycled materials.
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The newly-acquired mechanical recycling plant will be operational by 2025, producing post-consumer recycled (PCR) resins from plastic waste feedstock under LyondellBasell’s CirculenRecover brand.
The brand is part of the company’s Circulen portfolio of products that facilitate a circular economy.
This deal aligns with LyondellBasell’s commitment to create a circular economy for plastic and contribute towards eliminating plastic waste.
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LyondellBasell’s investment in the California-based facility complements its existing ventures such as its equity stake in the Cyclyx joint venture and the investment in the Cyclyx Circularity Centre in Houston, US.
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By GlobalDataLyondellBasell Circular and Low Carbon Solutions executive vice-president Yvonne van der Laan said: “This acquisition further strengthens our US presence and will deliver value for our customers and plastic recycling rates in the West Coast.
“We will build upon our existing experience in plastic recycling in Europe and deliver a state-of-the-art, mechanical recycling facility to meet the growing demand for recycled products in the US.”
In December last year, LyondellBasell acquired a minority stake in Source One, a Leiferde, Germany-based plastic waste sourcing and engineering company.
