LyondellBasell, 23 Oaks Investments Form JV To Build Plastic Waste Sorting And Recycling Facility

RTTNews | 1052 days ago
Stocktwits
LyondellBasell, 23 Oaks Investments Form JV To Build Plastic Waste Sorting And Recycling Facility

(RTTNews) - LyondellBasell Industries N.V. (LYB) and Germany's 23 Oaks Investments on Tuesday signed an agreement to create Source One Plastics, a joint venture that will build an energy efficient, advanced plastic waste sorting and recycling facility in Germany.

Using renewable energy from wind and biomass, the new unit is designed to process the amount of plastic packaging waste generated by approximately 1.3 million German citizens per year.

The Source One Plastics facility will produce processed waste that will provide a material part of the feedstock for an advanced recycling plant that LyondellBasell plans to build at its Wesseling, Germany, site.

Using LyondellBasell's proprietary MoReTec technology, this plant will be the first commercial scale, single-train advanced recycling plant, designed to demonstrate its capability for further scalability.

Once in operation, it will enable recycling of most types of plastic materials such as multi-layered food packaging items or mixed plastic containers. Both projects contribute to LyondellBasell's sustainability ambition to end plastic waste in the environment.

Tags: LYB
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Japan Data On Tap For Friday

Japan Data On Tap For Friday

Japan is scheduled to release a batch of data on Friday, headlining a busy day for Asia-Pacific economic activity. On tap are July figures for unemployment, industrial production, retail sales, housing starts and construction orders, as well as August data for household confidence and Tokyo inflation.
RTTNews | 12 minutes ago
Euro Climbs Against Majors

Euro Climbs Against Majors

The euro firmed against its major counterparts in the New York session on Thursday.
RTTNews | 44 minutes ago
Swiss Market Ends Marginally Up

Swiss Market Ends Marginally Up

The Switzerland market ended marginally up on Thursday after a choppy ride as stocks swung between gains and losses right through the day's trading session.
RTTNews | 4h 22min ago
European Stocks Close Weak

European Stocks Close Weak

European stocks closed lower on Thursday as the mood remained largely cautious with investors closely following geopolitical news, digesting tech giant Nvidia's earnings, and some crucial economic data from the U.S.
RTTNews | 4h 42min ago
U.S. Pending Home Sales Fall More Than Expected In July

U.S. Pending Home Sales Fall More Than Expected In July

A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. fell by more than expected in the month of July. NAR said its pending home sales index decreased by 0.4 percent to 71.7 in July after sliding by 0.8 percent to 72.0 in June. Economists had expected pending home sales to edge down by 0.1 percent.
RTTNews | 7h 42min ago
Eurozone Economic Confidence Weakens In August

Eurozone Economic Confidence Weakens In August

Eurozone economic sentiment softened unexpectedly in August as only industry and retail trade showed improvements, survey results from the European Commission showed Thursday. The economic sentiment indicator slid to 95.2 in August from a revised 95.7 in the previous month. The score was forecast rise to 96.0.
RTTNews | 7h 52min ago
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