LyondellBasell acquires 25% of Cyclyx joint venture

Cyclyx International, a joint venture between Agilyx and ExxonMobil (XOM), announces LyondellBasell (LYB) has acquired 25% equity ownership of the joint venture. “LyondellBasell joining Cyclyx, which was formed in December 2020, further accelerates innovation and development of the necessary infrastructure for a nationwide circular economy for plastics,” the company stated. “Investing in plastic waste value chain experts such as Cyclyx, together with Agilyx and ExxonMobil, helps create the robust supply chains we all need to increase access to circular and renewable feedstocks. This collaboration unlocks the necessary scale of recycled material and infrastructure for our planned integrated Circular and Low Carbon Solutions Hub in the Houston area and aligns with our purpose of creating solutions for everyday sustainable living,” says Yvonne van der Laan, LyondellBasell executive vice president, Circular and Low Carbon Solutions.