PR98889

ROTTERDAM, Netherlands, Nov. 18, 2022 /PRNewswire=KYODO JBN/ --

LyondellBasell today announces it has made a decision to move forward with

engineering to build an advanced recycling plant at its Wesseling, Germany,

site. Using LyondellBasell's proprietary MoReTec technology, this commercial

scale advanced recycling plant would convert pre-treated plastic waste into

feedstock for new plastic production.  The final investment decision is

targeted for the end of 2023.

The previously announced German Joint Venture Source One Plastics will provide

plastic waste  feedstock to the plant. Source One Plastics is planning to build

a facility designed to recycle the amount of plastic packaging waste generated

by approximately 1.3 million German citizens per year. This plastic waste will

consist of materials such as multi-layered food packaging items or mixed

plastic containers that are typically not recycled today.

"We are actively working to move the circular economy forward. Progressing our

MoReTec technology represents another step LyondellBasell is making to

accelerate the development and implementation of scalable sustainable and

circular technology," said Yvonne van der Laan, LyondellBasell Executive Vice

President, Circular and Low Carbon Solutions. "This high yield, differential

technology will allow us to convert plastic waste into pyrolysis oil and

pyrolysis gas for use in our crackers as feedstock leading to the production of

new plastic materials. Solid process residues can be re-used or consumed in

other applications, making this technology an energy efficient, zero waste

process for the recycling of plastic waste".

The start-up of the MoReTec advanced recycling plant is planned for end of 2025

with a capacity of 50,000 tonnes per year. The feedstock produced will be

converted at the LyondellBasell Wesseling site into new CirculenRevive polymers

for use in applications such as food packaging and healthcare products.

MoReTec - A story of innovation

In 2018, LyondellBasell began conducting base research in the chemical

recycling of plastic waste together with the Karlsruhe Institute of Technology

(KIT) in Germany, which proved the efficiency of the MoReTec technology at

laboratory scale. In October 2019, the company announced the construction of a

chemical recycling pilot plant at its Ferrara, Italy, site, which begun

operation in August 2020. With the operation of the pilot plant, research work

improved the efficiency of the recycling process, identified a commercial

catalyst and made further progress in the characterization of the waste

feedstock stream. The MoReTec plant capability was further expanded converting

the pilot plant to a small scale industrial facility in 2021.

Today, the MoReTec technology allows for the recycling of most types of plastic

materials such as multi-layered food packaging items or mixed plastic

containers. Polyolefin-based plastic waste is decomposed in a proprietary

reactor unit, resulting in high-quality feedstock usable for the production of

new plastic materials at the LyondellBasell polymer plants.

About LyondellBasell

As a leader in the global chemical industry, LyondellBasell strives every day

to be the safest, best operated and most valued company in our industry. The

company's products, materials and technologies are advancing sustainable

solutions for food safety, access to clean water, healthcare and fuel

efficiency in more than 100 international markets. LyondellBasell places high

priority on diversity, equity and inclusion and is Advancing Good with an

emphasis on our planet, the communities where we operate and our future

workforce.  The company takes great pride in its world-class technology and

customer focus. LyondellBasell has stepped up its circularity and climate

ambitions and actions to address the global challenges of plastic waste and

decarbonization. In 2022, LyondellBasell was named as one of FORTUNE Magazine's

"World's Most Admired Companies" for the fifth consecutive year. For more

information, please visit www.lyondellbasell.com or follow @LyondellBasell [

https://c212.net/c/link/?t=0&l=en&o=3714513-1&h=150838568&u=https%3A%2F%2Fnam11.safelinks.protection.outlook.com%2F%3Furl%3Dhttps%253A%252F%252Fwww.linkedin.com%252Fcompany%252Flyondell-basell%252F%253FminiCompanyUrn%253Durn%25253Ali%25253Afs_miniCompany%25253A5667%2526lipi%253Durn%25253Ali%25253Apage%25253Ad_flagship3_feed%25253BwF2GxPbET4ix3Rj%25252B1tlEOQ%25253D%25253D%2526licu%253Durn%25253Ali%25253Acontrol%25253Ad_flagship3_feed-actor_container%2526lici%253D38mXQHpTyzJjhSlW%25252FYR2Aw%25253D%25253D%26data%3D04%257C01%257C%257C27498e398e8848495c7708d9fc712281%257Cfbe6208106d8481dbaa034149cfefa5f%257C0%257C0%257C637818385111805214%257CUnknown%257CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%253D%257C3000%26sdata%3DnZQ1RWDelzqh4E5slWhMdZoePeVJR5jfdkLPNxYKT8s%253D%26reserved%3D0&a=%40LyondellBasell

] on LinkedIn.

FORWARD-LOOKING STATEMENTS

The statements in this release relating to matters that are not historical

facts are forward-looking statements. These forward-looking statements are

based upon assumptions of management of LyondellBasell which are believed to be

reasonable at the time made and are subject to significant risks and

uncertainties. Actual results could differ materially based on factors

including, but not limited to, the final investment decision related to the

proposed facilities; our ability to complete the transaction described or the

timing of such transaction; the successful construction and operation of the

facilities described in this release; our ability to obtain all necessary

regulatory approvals; our ability to meet our sustainability goals, including

the ability to increase production of recycled and renewable-based polymers to

meet our targets and forecasts; and general economic conditions in geographic

regions or markets served by LyondellBasell and its affiliates, or where

operations of the company and its affiliates are located. While these

statements and projections are made in good faith, LyondellBasell and its

management cannot guarantee that anticipated future results will be achieved.

Additional factors that could cause results to differ materially from those

described in the forward-looking statements can be found in the "Risk Factors"

section of our Form 10-K for the year ended December 31, 2021, which can be

found at www.LyondellBasell.com on the Investor Relations page and on the

Securities and Exchange Commission's website at www.sec.gov. There is no

assurance that any of the actions, events or results of the forward-looking

statements will occur, or if any of them do, what impact they will have on our

results of operations or financial condition. Forward-looking statements speak

only as of the date they were made and are based on the estimates and opinions

of management of LyondellBasell at the time the statements are made.

LyondellBasell does not assume any obligation to update forward-looking

statements should circumstances or management's estimates or opinions change,

except as required by law.

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SOURCE  LyondellBasell

CONTACT: Andreas Anker, Corporate Communications, Andreas.anker@lyb.com, +49

2236 72 1595