LyondellBasell invests in Infinity Recycling venture fund
LyondellBasell announced its investment in a circular plastics fund led by global venture fund Infinity Recycling. This investment expands the company’s venture capital activities to help eliminate plastic waste in the environment and advance the circular economy.
“By investing catalytic capital in funds such as Infinity Recycling’s venture fund, we promote the collaboration required to propel a circular economy for plastics forward,” said Yvonne Van Der Laan, Director of olefins and optimization at LyondellBasell. “We aim to help catalyze an additional five dollars from co-investors for every dollar we invest in venture funds focused on the recovery and recycling of plastic waste.”
With LyondellBasell’s investment, the fund will support early-stage companies deploying and developing advanced recycling technologies with a focus on bringing these technologies to scale in Europe.
In 2021, LyondellBasell was also a founding investor in Closed Loop Circular Plastics Fund, which is focused on accelerating infrastructure development and advanced technologies needed to increase the recovery of plastic waste in North America.
These investments align with LyondellBasell’s systemic approach to help end plastic waste in the environment and promote a circular, low-carbon economy. The company is focusing on mechanical recycling, advanced (molecular) recycling and the use of renewable-based feedstocks in its conventional production processes and aims to produce and market 2 MM metric t of recycled and renewable-based polymers annually by 2030.