LyondellBasell today announced it has acquired a minority share in Source One GmbH, Leiferde, Germany, a plastic waste sourcing and engineering company, specialized in developing technical solutions for hard-to-recycle post-consumer plastic waste. Both LYB and Landbell will be shareholders in Source One. Landbell is a global service provider who operates a comprehensive network of Extended Producer Responsibility (EPR) and take-back organizations worldwide.

This strategic investment provides LYB access to Source One's engineering and plastic waste sourcing services. It also establishes a relationship with Landbell to provide plastic packaging waste volumes for LYB’s advanced recycling operations. Processing plastic waste volumes from EPR Service Providers such as Landbell reinforces the commitment by LYB to support brand owners to close the loop for plastic packaging.

"We are committed to support the growing demand of our customers for circular solutions," says Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. “With the investment in Source One we are taking another important step to secure access to plastic waste for our recycling activities and to strengthen our Circulen product portfolio of material made from recyclable or renewable resources.”

50% of the shares in Source One will be held by 23 Oaks Investments, Leiferde, Germany, which together with LYB has formed the joint venture Source One Plastics in 2022. Source One Plastics currently builds an energy efficient, advanced plastic waste sorting and recycling facility in Germany.

“Thanks to our relationship with LYB and Landbell, we are able to optimally position Source One and successfully implement our growth strategy,” says Kai Hoyer, Owner 23 Oaks Investments. “We are proud and grateful to be pursuing this path together with our partners and to be driving the circular economy forward from this strong alliance. Together, we are developing sustainable and technically innovative solutions for the future of the plastics processing industry.”

“We are very pleased to welcome LYB as a global partner to Source One,” says Uwe Echteler, COO of Landbell. “The expertise in the production and processing of plastics and the resulting opportunities to close loops will further accelerate the innovative strength of Source One and the Landbell Group.”

 

Source:lyondellbasell.com

Report Abuse