LyondellBasell to Acquire German Recycling Tech Company APK

On August 22, 2024, LyondellBasell (LYB) announced its agreement to acquire full ownership of APK AG, a German recycling technology firm based in Merseburg. This acquisition strategically aligns with LYB’s goals to expand and enhance its Circular and Low Carbon Solutions business. The deal, still subject to customary closing conditions, represents LYB’s belief in APK's solvent-based recycling technology, which complements its existing mechanical and advanced recycling capabilities. LYB had previously invested in APK and collaborated on scaling its technology, underscoring the strategic fit.

APK’s solvent-based recycling method specifically targets low-density polyethylene (LDPE), aiming to tackle hard-to-recycle flexible plastics, which are a significant component of consumer waste. This innovative process allows for the separation of different polymers within mixed plastic waste, producing high-purity recycled materials suitable for new packaging applications, such as personal care products. LYB plans to market these materials under its Circulen portfolio.

The acquisition also secures the future of APK, which entered insolvency in May 2024. According to Yvonne van der Laan, LYB’s Executive Vice President of Circular and Low Carbon Solutions, APK’s technology is a crucial addition to LYB’s recycling operations. She emphasized that this move is a significant milestone in LYB’s commitment to producing 2 million metric tons of recycled and renewable polymers annually by 2030. Van der Laan highlighted APK’s motivated culture and strong expertise in R&D, engineering, and operations, which LYB aims to leverage as it strengthens its leadership in sustainability.

Steve Döring, CEO of APK AG, expressed satisfaction with the agreement, noting that LYB’s ambition to lead in circular solutions and technologies makes it an ideal strategic partner. The investment will unlock growth opportunities for APK’s unique recycling technology, enabling it to reach its full potential.

This acquisition aligns with LYB’s broader strategy, introduced in March 2023, to establish itself as an industry leader in sustainability. A key part of this strategy involves investing heavily in plastic waste sorting and recycling operations across Europe, the United States, and Asia through its Circular & Low Carbon Solutions business.

LyondellBasell (LYB) is a global leader in the chemical industry, committed to creating sustainable solutions for everyday living. By leveraging advanced technology and strategic investments, LYB is driving progress toward a circular and low-carbon economy. In all that LYB does, the focus remains on delivering value to customers, investors, and society. As one of the world’s largest polymer producers and a pioneer in polyolefin technologies, LYB develops, manufactures, and markets innovative, high-quality products used in applications such as sustainable transportation, food safety, clean water, and healthcare.