New Cyclyx Joint Venture Aims to Boost Plastic Recycling

SEATTLE (Scrap Monster): The American Chemistry Council (ACC) member ExxonMobil Product Solutions and Agilyx have joined hands to form a new joint venture initiative named Cyclyx, which aims to boost the plastic recycling rates as well as the volume of plastic waste being turned into valuable resources. Another leading ACC member, LyondellBasell, has committed to be part of the joint venture at a later stage.

The joint venture aims to increase the recyclability pf plastics from 10% to 90% by diverting plastic waste away from landfills. In line with its objective, Cyclyx has launched landfill diversion programmes in association with communities, by which all types of plastic waste are collected.

The various programs implemented at schools and designated collection sites across the City of Houston have so far collected more than 440,000 pounds of plastic waste.

Cyclyx will build necessary infrastructure to sort and pre-process plastic waste into feedstock of required technical specification, which in turn will be processed by recyclers like ExxonMobil and LyondellBasell.

The joint venture plans to invest $135 million towards setting up Cyclyx Circularity Center (CCC) in the Houston trade port, whose operations are expected to commence in mid-2025. The CCC will have capacity to generate approximately 300 million pounds of plastic feedstock every year.

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