LyondellBasell To Construct Molecular Recycling Facility
Zacks Investment Research | Oct 17, 2019 08:46AM ET
LyondellBasell Industries N.V. (NYSE:LYB) recently announced the construction of its latest small-scale pilot facility at the company’s Ferrara site in Italy, taking a step ahead toward the conversion of post-consumer plastic waste into new plastics.
LyondellBasell’s MoReTec molecular recycling technology shows that the use of a catalyst in the pyrolysis process, or the structural breakdown of plastic waste into molecules is quicker and more energy-efficient than conventional chemical recycling.
The goal of MoReTec is to recycle plastic waste, such as multi-layer films, back to the molecular state using a proprietary catalyst-based approach to produce new plastic for all uses, including food and healthcare products.
Per LyondellBasell, the company’s investment in a small-scale pilot facility will lead to the advancement of its MoReTec technology toward commercial scale, in addition to continued catalyst development.
Per LyondellBasell, this solution has significant potential, given its lower-energy use and faster chemical-conversion process which requires less heat. The company will continue to build its pilot facility at Ferrara, while also concentrating on the impact of different types of waste on the molecular recycling process, catalyst selection, and process conditions.
The company is also actively engaged in mechanical recycling through its joint venture with SUEZ – Quality Circular Polymers (QCP) – which turns post-consumer plastic waste into new plastic pellets used in applications ranging from electrical appliances, detergent bottles and suitcases. LyondellBasell has also created new bioplastics from 100% recycled raw materials, such as cooking and vegetable oil waste, that can be used to make products such as food packaging, toys, and furniture.
LyondellBasell’s shares have gained around 0.8% in the past three months compared with the roughly 5.1% decline recorded by the
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