18-04-2024
LyondellBasell and Genox recycling open plastics recycling joint venture
LyondellBasell today announced the opening of the plastics recycling joint venture in Zhaoqing, Guangdong Province in Southern China with Genox Recycling. The plastic recycling plant will use mechanical recycling technology to recycle plastic waste and produce new polymers, adding to the LyondellBasell CirculenRecover product portfolio. The JV will operate under the name Guangdong Genox LyondellBasell New Material Co., Ltd.,.
“Today’s announcement demonstrates our progress on recycling investments. This joint venture is linked to LYB’s commitment to support a circular economy for plastics and is part of our strategy to expand our circular polymer offering in China,” said Yvonne van der Laan, LyondellBasell executive vice president, Circular and Low Carbon Solutions. “This partnership with Genox enables us to create local recycling solutions for customers and brand owners in China in support of their ambitious targets.”
“Today we celebrate the opening of our pioneering joint venture facility with valued partners, customers, employees and local stakeholders.” said Allen Yu, LyondellBasell senior vice president, Asia Pacific. “The JV opening demonstrates our determination to support the growth of our customers in the region by driving sustainable solutions together with our partners.”
“This new JV is an execution of LyondellBasell’s strategy of building a strong and profitable Circular and Low Carbon Solutions business in Asia”, said Limin Fu, vice president of LyondellBasell China’s Joint Venture Management and Polyolefins, chairman of Guangdong Genox LyondellBasell New Material Co., Ltd., “The JV combines the strengths of both shareholders to deliver the result we see today. This includes partnering with Genox through an off-take business, developing innovative products to meet customer’s needs, growing our capability into the entire plastics recycling value chain. This new joint venture will help develop the local plastics recycling infrastructure in China and contribute to a circular economy.”
“Genox is constantly exploring the industry value chain, and we are delighted to partner with LyondellBasell so we can leverage our advantages to lead the development of plastics recycling,” said Jingfa Jiang, chairman of Genox Recycling. “Together we can accelerate a circular and low-carbon future . ”
LyondellBasell is also dedicated to educating, training and preparing tomorrow’s workforce to be future leaders in the industry. On the same day of the JV opening, LyondellBasell contributed to one local elementary school and one middle school with a cash donation and stationary made from the recycled plastics produced from the new JV. LyondellBasell strives to be a responsible, good neighbour in the communities where they operate and make positive impacts.
News Category:
-
The progress of sustainable aviation fuel solutions for the decarbonisation of aviation
(Webinar) - As the world increasingly commits to steeper decarbonization targets, the aviation industry is determined to develop sustainable solutions to produce cost-competitive, ...
22-05-2024
-
New Honeywell naphtha technology set to boost energy efficiency
Honeywell today announced a transformational new naphtha to ethane and propane (NEP) process that will enable regions across the world to improve the efficiency of light ...
13-05-2024
-
Singapore Airlines Group orders sustainable aviation fuel from Neste
Neste and the Singapore Airlines (SIA) Group have signed an agreement for the purchase of 1,000 tons of neat Neste MY Sustainable Aviation Fuel. This will make SIA and ...
07-05-2024
-
Hygenco to set up a green hydrogen / ammonia project at Tata Steel industrial park
Five Private Limited a pioneer in producing low-cost green hydrogen, has formally entered into a binding agreement with Tata Steel Special Economic Zone Industrial Park, ...
07-05-2024
-
TotalEnergies and Sinopec strengthen cooperation in low-carbon energies
On the occasion of the state visit to France by the President of the People's Republic of China, TotalEnergies, represented by Patrick Pouyanné, Chairman and CEO, and ...
07-05-2024
-
hte to provide high throughput test system designed for CO2 electroreduction
hte – the high throughput experimentation company was awarded a contract by the technical university ETH Zurich to provide a high throughput test system designed for ...
07-05-2024
-
Ebara Elliott Energy to provide compressor for sustainable aviation fuel project in Thailand
Ebara Elliott Energy, formerly Elliott Group, announces it has been contracted to provide a motor-driven recycle compressor with a variable frequency drive (VFD) for ...
07-05-2024
-
Clariant introduces new solutions to reduce the environmental impact of plastics
Clariant is excited to present the company’s latest solutions to support the plastics industry to improve safety and efficiency, increase circularity, and reduce waste ...
06-05-2024
-
OMV and Borealis sign supply agreements with TOMRA for recycling feedstock from mixed waste
OMV and Borealis have entered into long-term feedstock supply agreements for their recycling facilities with TOMRA Feedstock, a subsidiary of leading sorting technology ...
02-05-2024
-
Topsoe awarded contract to support feed study for new low-carbon ammonia plant in Louisiana, USA
Topsoe, a global leader in carbon emission reduction technologies, has signed a contract with CF Industries, the world’s largest producer of ammonia, for the licensing ...
02-05-2024