LyondellBasell (NYSE: LYB) and Veolia Belgium have agreed to reorganize ownership of the Quality Circular Polymers (QCP) BV recycling facilities in Belgium and the Netherlands. Veolia will sell its 50% stake in QCP to LyondellBasell, which will become the company’s sole owner.
LyondellBasell is advancing its goal to establish a successful circular and low-carbon solutions company, in order to fulfill customer demand for more sustainable products and solutions, with full ownership of QCP. LyondellBasell is well-positioned to continue collaborating with its clients to provide the goods and solutions required to help them achieve their own objectives.
“The demand for circular solutions continues to grow, and LyondellBasell is committed to creating solutions for everyday sustainable living,” said Yvonne van der Laan, LyondellBasell’s executive vice president, Circular & Low Carbon Solutions. “Acquiring full ownership of QCP helps us achieve our goal of producing and marketing at least 2 million metric tons of recycled and renewable-based polymers.” We applaud Veolia for their five-year relationship and look forward to continuing to engage with them as a feedstock provider.”
Using domestic plastic trash, the QCP mechanical recycling facilities create specific mixes. Recycled materials from QCP are utilized to produce things such as bottles, buckets, caps & closures, strollers, and luggage. LyondellBasell will continue to market QCP polymers under the CirculenRecover name, with QCP being a trademark of LyondellBasell.
Statements of Intention
This release contains forward-looking statements about topics that are not historical facts. Actual results may differ materially depending on factors such as, but not limited to, our ability to meet our sustainability goals, such as increasing production of recycled and renewable-based polymers to meet our targets and forecasts, and our ability to procure feedstock to meet these goals. Additional factors that could cause results to differ materially from those described in forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the fiscal year ended December 31, 2022, which can be found on the Investor Relations page of www.LyondellBasell.com and on the Securities and Exchange Commission’s website at www.sec.gov. There is no guarantee.
Recycling of plastics and Veolia
Veolia, a global leader in plastics recycling, runs around 200 sorting facilities, 40 recycling and compounding plants, and distributes nearly 500 thousand tons of circular polymers to thousands of clients worldwide.
Veolia is involved in all aspects of the plastics value chain, from ecodesign to the manufacturing of ready-to-use high-performance circular resins. Veolia is committed to implementing efficient and low CO2 recycling processes, engaging in long-term sustainable business models, promoting collective responsible cooperation schemes, and investing in development and innovation to the service of demanding and safe products, all to the benefit of our planet, through its dedicated global offer, PlastiLoop.
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