Source One Plastics, a collaboration between 23 Oaks Investments and LyondellBasell, has achieved a successful startup of its plastic waste sorting and recycling facility situated in Eicklingen, Germany. This cutting-edge unit is designed to process challenging-to-recycle post-consumer plastic waste, including mixed plastic packaging and flexible polyolefins materials that are typically destined for incineration. With an anticipated annual processing capacity of 70,000 metric tons, the facility aims to address plastic waste equivalent to that generated by approximately 1.5 million German citizen annually.

Innovatively employing a dry processing method, the plant strives to reduce energy consumption by up to thirty percent compared to conventional plastic recycling technologies. The system is meticulously crafted to minimize the generation of fine plastic dust and its release into the environment. Additionally, the facility operates on locally generated renewable energy, contributing to its sustainability objectives. The plastic waste processed in Eicklingen is slated to become a significant portion of the feedstock for LyondellBasell's inaugural commercial-scale catalytic advanced recycling plant, set to be constructed at its Wesseling, Germany site.

Yvonne van der Laan, LyondellBasell's Executive Vice President of Circular and Low Carbon Solutions, conveyed excitement regarding the venture. This event marked another significant milestone in their strategy to convert recycled material into high-quality polymer. Furthermore, Yvonne highlighted that the state-of-the-art advanced sorting facility would transform post-consumer mixed plastic waste into feedstock for their integrated hub in the Cologne area. At that location, they planned to utilize cutting-edge technologies to close the loop of plastic materials and generate sustainable solutions for society.

The Source One Plastics joint venture is positioned to offer a comprehensive range of services, including procurement, sorting, and pre-treatment of waste plastic, ultimately delivering feedstock suitable for advanced recycling. Through advanced recycling processes, LyondellBasell aims to produce high-quality polymers applicable across various industries.

Kai Hoyer, the owner of 23 Oaks Investments, highlighted the company's reputation as a strategic solution provider for sustainable plastic use, utilizing global experience and comprehensive knowledge in the circular economy. He stressed the integration of expertise with a robust operational approach, explaining that they combined this expertise with a strong operational approach.

The initiation of operations at Source One Plastics signifies a crucial step forward in the sustainable management of plastic waste. The facility's innovative technologies, commitment to energy efficiency, and strategic collaboration between LyondellBasell and 23 Oaks Investments showcase a concerted effort to address the challenges of plastic waste in an environmentally responsible and economically viable manner. The success of this venture not only marks a milestone in the companies' sustainability goals but also contributes to the broader vision of creating a closed-loop circular economy for plastic materials.