RELEASE: LyondellBasell makes the decision to advance in the advanced recycling plant in Wesseling (Germany)

ROTTERDAM, The Netherlands, Nov.

RELEASE: LyondellBasell makes the decision to advance in the advanced recycling plant in Wesseling (Germany)

ROTTERDAM, The Netherlands, Nov. 18, 2022 /PRNewswire/ -- LyondellBasell announces today that it has made the decision to go ahead with engineering to build an advanced recycling facility at its Wesseling, Germany facility. Using LyondellBasell's proprietary MoReTec technology, this commercial-scale advanced recycling facility would convert pre-treated plastic waste into feedstock for the production of new plastics. The final investment decision is scheduled for the end of 2023.

German joint venture Source One Plastics, previously announced, will provide plastic waste feedstock to the plant. Source One Plastics plans to build a facility designed to recycle the amount of plastic packaging waste generated by approximately 1.3 million German citizens a year. This plastic waste will consist of materials such as multi-layered food packaging items or mixed plastic packaging that are not normally recycled today.

"We are actively working to advance the circular economy. The progress of our MoReTec technology represents another step LyondellBasell is taking to accelerate the development and deployment of a scalable circular, sustainable technology," said Yvonne van der Laan, Executive Vice President of LyondellBasell for circular and low carbon solutions. "This high-throughput differential technology will allow us to convert plastic waste into pyrolysis oil and pyrolysis gas for use in our crackers as feedstock leading to the production of new plastic materials. Solid waste from the process can be reused or consumed in other applications, making this technology an energy-efficient, zero-waste process for recycling plastic waste."

The start-up of the MoReTec advanced recycling plant is scheduled for the end of 2025, with a capacity of 50,000 tons per year. The feedstock produced will be converted at LyondellBasell Wesseling's plant into new CirculenRevive polymers for use in applications such as food packaging and healthcare products.

MoReTec – a history of innovation

In 2018, LyondellBasell started doing grassroots research in the chemical recycling of plastic waste together with the Karlsruhe Institute of Technology (KIT) in Germany, which demonstrated the efficiency of the MoReTec technology on a laboratory scale. In October 2019, the company announced the construction of a chemical recycling pilot plant at its headquarters in Ferrara, Italy, which began operating in August 2020. With the operation of the pilot plant, the research work improved efficiency of the recycling process, identified a commercial catalyst and made progress in the characterization of the flow of raw materials from waste. The capacity of the MoReTec plant was further expanded by converting the pilot plant to a small-scale industrial facility in 2021.

Today, MoReTec technology makes it possible to recycle most types of plastic materials, such as multi-layered food packaging items or mixed plastic packaging. Polyolefin-based plastic waste is broken down in a proprietary reactor unit, resulting in a high-quality raw material usable for the production of new plastic materials in LyondellBasell's polymer plants.

About Lyondell Basell

As a leader in the global chemical industry, LyondellBasell strives every day to be the safest, best-operated and most valued company in our industry. The company's products, materials and technologies are advancing sustainable solutions for food safety, access to clean water, healthcare and fuel efficiency in more than 100 international markets. LyondellBasell places a high priority on diversity, equity and inclusion and moves towards good with an emphasis on our planet, the communities in which we operate and our future workforce. The company prides itself on its world-class technology and customer focus. LyondellBasell has stepped up its circularity and climate ambitions and actions to address the global challenges of plastic waste and decarbonisation and has recently announced new initiatives to expand its mechanical and advanced recycling footprints. In 2022, LyondellBasell was named one of FORTUNE magazine's "World's Most Admired Companies" for the fifth consecutive year. For more information, visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

forward-looking statements

Statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based on assumptions by management believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially from projections, anticipated results or other expectations expressed in this release, including, without limitation, our ability to complete the transaction described or the timing of such transaction; the successful construction and operation of the facilities described in this release; our ability to obtain all necessary regulatory approvals; our ability to meet our sustainability targets, including the ability to increase production of recycled and renewable polymers to meet our targets and forecasts; and general economic conditions in geographic regions or markets served by LyondellBasell and its affiliates, or where the operations of the company and its affiliates are located. While these statements and projections are made in good faith, LyondellBasell and its management cannot guarantee that anticipated future results will be achieved. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the "Risk Factors" section of our Form 10-K for the year ended December 31, 2021, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission website at www.sec.gov. LyondellBasell does not undertake any obligation to publicly update or revise any forward-looking statement made in this document or any other forward-looking statement made, whether as a result of new information, future events or otherwise, except as required by law.

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