LyondellBasell: Minority stake in Source One

LyondellBasell (LYB) has acquired a minority stake in Source One GmbH. Together with 23 Oaks Investments GmbH and Landbell AG, LYB intends to make the operational consulting company robust and fit for the future in all matters relating to sustainability. The common goal of the three shareholders is to close loops for plastic packaging in so-called "closed-loop recycling" with the help of technical solutions for post-consumer waste that is difficult to recycle.

"With LyondellBasell as a new shareholder, we have fully integrated Source One into the value chain," says Kai Hoyer, Managing Director of Source One and owner of 23 Oaks Investments. "Our customers will benefit from this interface through a new depth in the range of services, particularly in the area of sourcing."

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50 per cent of the shares in Source One are held by 23 Oaks Investments, Leiferde, which founded the Source One Plastics joint venture together with LYB in 2022. Source One Plastics is currently building a new sorting and recycling plant for plastic waste in Eicklingen, Lower Saxony.

"We are committed to supporting our customers' growing demand for circular solutions," says Yvonne van der Laan, LyondellBasell Executive Vice President, Circular and Low Carbon Solutions. "With the investment in Source One, we are taking another important step to secure access to plastic waste for our recycling activities and strengthen our 'Circulen' product portfolio of materials made from recyclable or renewable resources."

The strategic investment in Source One provides LyondellBasell with access to engineering and sourcing services for plastic waste. It also establishes the company's relationship with Landbell to provide plastic packaging waste for LyondellBasell's chemical recycling processes. This underlines LyondellBasell's commitment to supporting brand owners in closing the loop for plastic packaging.

More information:
www.lyondellbasell.com, s-one.de, www.23oaks-invest.com, landbell-group.com

LyondellBasell, Rotterdam, Netherlands