Netherlands-based LyondellBasell has acquired 25% equity ownership in Cyclyx International, a joint venture between Agilyx and ExxonMobil founded in 2020.
“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," said Yvonne van der Laan, LyondellBasell executive vice president, circular and low carbon solutions. "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."
Cyclyx draws on over 1500 post-use plastic chemical characterisations to assesses each source of waste plastic to understand its chemical profile. It then uses artificial intelligence and big data to sort those profiles into the various mechanical and chemical recycling pathways that the plastics can be used for. Finally, the company aggregates and pre-processes the products according to costumers’ needs.
Cyclyx is also expanding its business model from a strict licensing model to now include a build, own, and operate option for Cyclyx Circularity Centers (CCCs). This business model expansion will enable Cyclyx to control the custody and quality of custom-blended feedstocks from sourcing through delivery. The company said in a statement that it believes this expanded business model will accelerate the collection of post-use plastics to increase recycling in more communities and businesses nationwide.