Chemical Company LyondellBasell Plans To Build Advanced Recycling Plant In Germany
Portfolio Pulse from Shivani Kumaresan
LyondellBasell Industries NV (NYSE:LYB) announced plans to build its first industrial-scale catalytic advanced recycling demonstration plant in Wesseling, Germany. The plant will utilize the company's MoReTec technology to convert post-consumer plastic waste into feedstock for new plastic materials with net zero GHG emissions. The facility is expected to have an annual capacity of 50,000 tonnes and aims to be completed by the end of 2025. LYB shares closed higher by 1.04% at $97.23 on Friday.
November 20, 2023 | 11:17 am
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LyondellBasell's announcement of a new advanced recycling plant in Germany highlights its commitment to sustainability and innovation in recycling technology. The plant's expected completion by 2025 and its potential to produce materials with net zero GHG emissions could positively influence investor sentiment.
The construction of an advanced recycling plant aligns with global sustainability trends and could give LyondellBasell a competitive edge in the market. The positive environmental impact and the potential for long-term cost savings from using recycled feedstock are likely to be viewed favorably by investors. The recent 1.04% increase in stock price suggests the market is already responding positively to the news.
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