Cyclyx International, a supply chain innovation company, has announced taking the final investment decision to build its first circularity centre in Houston, US.
A joint venture company, Cyclyx was established by a consortium of Agilyx, an integrated plastic recycling solutions provider, in collaboration with ExxonMobil and LyondellBasell.
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ExxonMobil and LyondellBasell are collaboratively contributing $135m to the development of the Cyclyx Circularity Center (CCC). The two companies also have offtake rights from the CCC.
Cyclyx will use this funding to support various operating activities and construction costs for the CCC.
Expected to open in mid-2025, the CCC is being developed to collect and process plastics, which otherwise are diverted to landfills across the US.
Once open, the facility is projected to have the capacity to produce up to 300 million pounds of plastic feedstock every year, which can then be used for advanced and mechanical recycling.
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By GlobalDataCyclyx said it is currently sourcing a mix of post-consumer, commercial, as well as industrial plastic waste of different kinds that can undergo processing at the CCC.
The company will leverage its existing proprietary technology at the new facility to analyse and process the collected plastic waste.
Work related to the CCC’s operations will support more than 100 jobs, with additional positions planned to be created off site such as logistics and collection programmes.
Cyclyx CEO Joe Vaillancourt said: “This milestone is evidence of the real progress we are making to increase the circularity of plastic waste as a resource.
“The first-of-its-kind CCC in Houston will serve as a blueprint, which we can replicate across the US to progress our long-term goal of increasing the recycling options for plastic waste. Cyclyx is proud to be an innovator and enabler for unlocking plastic’s potential.”
In August 2022, Cyclyx collaborated with Virgin Red to improve the recyclability of plastic.
