October 18, 2022 -  Cyclyx International, ExxonMobil (NYSE: XOM) and
LyondellBasell (NYSE: LYB) today announced they have signed an agreement to
further advance development of a Cyclyx Circularity Center, a first-of-its-kind
plastic waste sorting and processing facility previously announced
(https://newsweb.oslobors.no/message/569210) in the Houston area. The new
facility addresses a critical missing link in the plastic waste supply chain by
connecting community recycling programs to new and more advanced recycling
technologies that have the potential to take a much wider variety of plastic
materials.  

The Cyclyx Circularity Center will be unique among plastic recovery facilities,
producing feedstock for both mechanical and advanced recycling. The center will
leverage new technologies to analyze plastics based on their chemistry and sort
them according to customer specifications for their highest and best use. 

The circularity center will be located in the Greater Houston area, with
commercial start up planned in 2024. The facility will be designed to produce
150,000 metric tons or 330 million pounds of plastic feedstock per year,
supplying ExxonMobil and LyondellBasell recycling projects as well as mechanical
recycling markets. Total investment for the circularity center is estimated to
be $100 million, contingent upon a final investment decision in early 2023. 

"To help increase the overall U.S. recycling rate and meet growing customer
demand for circular products, more investment is needed by governments and
industry to collect and sort waste," said Dave Andrew, vice president of new
market development at ExxonMobil. "With this new facility, we are making a
substantial investment in plastic waste sorting infrastructure to accelerate our
advanced recycling efforts in Baytown and along the Gulf Coast."

"We are growing our global recycling capacity and actively pursuing
opportunities to help divert more plastic waste from landfills in order to make
it suitable for recycling," said Yvonne van der Laan, executive vice president
of circular and low-carbon solutions at LyondellBasell. "This agreement is a
perfect example of how collaboration across the value chain can help close the
gaps to making a circular economy possible, such as access to plastic waste
feedstock."

"This project serves as proof of how significant the need is for custom blended
plastics feedstock," stated Joe Vaillancourt, CEO of Cyclyx. "With our
capability to accept and process a wide range of waste plastics based on their
chemistry profile which we custom blend to the needs of our customers, we are
creating a new set of recycling options for difficult-to-recycle waste plastics
that today are sent to landfill. Our circularity centers will allow us to make
available a much larger amount of waste plastic into usable feedstock than has
been possible with the current recycling infrastructure. Additional circularity
centers are under consideration on the Gulf Coast and other locations." 

Cyclyx has a goal of processing more than 650,000 metric tons of waste plastic
per year by 2026. Consistent with this goal, Cyclyx is focused on its mission to
help increase the plastics recycling rate from 10% to 90% by getting the right
feed to the right technology, creating a new supply chain for waste plastic and
diverting post-use plastic from landfill.

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