US-headed ExxonMobil Corporation, one of the largest publicly traded international energy companies, has announced that it has completed the initial phase of a plant trial of a proprietary advanced recycling process for converting plastic waste into raw materials for the production of high-value polymers at ExxonMobil Chemical Company's Baytown facility in Texas (TX). Furthermore, the company has also entered into a joint venture (JV) agreement with polymer recycler Agilyx Corporation (Agilyx).
According to a statement, ExxonMobil intends to use results from the Baytown trial to scale up advanced recycling capabilities at other global facilities, targeting a circular solution for converting difficult-to-recycle plastic waste into feedstock for virgin-quality plastic.
ExxonMobil is taking action to help address the issue of plastic waste. This advanced recycling initiative brings together the strength of ExxonMobil’s integrated petrochemical facilities and our deep technology expertise in chemical processing to capture value from plastic waste and meet our customers’ growing demand for high-performance, certified circular polymers, said Karen McKee, President of ExxonMobil Chemical Company.
ExxonMobil has already obtained certifications through the International Sustainability and Carbon Certification Plus (ISCC+) process. ISCC+ is widely recognized by the industry as an effective system to certify products that result from advanced recycling of plastic waste.
Pending successful completion of the next phase of the Baytown plant trial, the company plans to market commercial volumes of certified circular plastics later this year.
New joint venture with Agilyx
ExxonMobil has also formed Cyclyx International LLC (Cyclyx), a joint venture (JV) together with Agilyx Corporation, a wholly-owned subsidiary of Norway-headed Agilyx AS (Agilyx), a pioneer in the advanced recycling of post-use plastics.
Cyclyx combines Agilyx’s expertise in plastic waste conversion with ExxonMobil’s technology expertise and large-scale petrochemical manufacturing network.
This is a significant milestone for Agilyx and Cyclyx, as it marks the beginning of an entirely new approach to plastic waste recovery. Our mission at Agilyx is clear – to help solve the issue of plastic waste, said Tim Stedman, CEO at Agilyx.
ExxonMobil holds a 25 percent equity interest in Cyclyx with Agilyx owning the remaining 75 percent. Cyclyx will be focused on developing innovative solutions for aggregating and pre-processing large volumes of plastic waste that can be converted into feedstocks for making virgin-quality plastic and will help supply ExxonMobil’s and third-party advanced recycling projects.
This joint venture represents an entirely new proposition about the way we handle plastic waste. The Cyclyx business model brings tangible solutions, turning plastic waste into valuable new products. Leveraging Agilyx’s expertise in plastics recycling and the scale of partners like ExxonMobil, we aim to create a lasting and impactful change, said Joe Vaillancourt, newly appointed CEO of Cyclyx.
ExxonMobil says it supports making the most of resources and minimizing waste, which are the underlying principles of the circular economy concept. Advanced recycling, along with innovation and new processes, will play an important role in reducing plastic waste.
The company is a founding member of the Alliance to End Plastic Waste, which is focused on accelerating investment in safe, scalable, and economically viable solutions to help address the challenge of plastic waste in the environment.
We see Cyclyx as helping to fill an important missing link in the plastics recycling value chain that is needed for advanced recycling solutions to scale. We share society’s concern about plastic waste, and our new joint venture is an important step in our efforts to develop advanced recycling technologies and approaches to help meet the demand for certified circular polymers, ended Karen McKee.