MOSCOW (MRC) -- ExxonMobil has joined Cyclyx International as a founding member, says Agilyx (Tigard, Oregon), which launched the consortium in June to leverage systems developed in-house to manage waste-plastic feedstock for chemical recycling, reported Chemweek.
In exchange for an USD8 million investment, ExxonMobil will receive a 25% equity interest as well as prioritized access to plastic waste for potential advanced recycling projects, access to Agilyx’s artificial intelligence platform, and agreement to collaborate on technology.
“One of Cyclyx’s goals is to invite other companies to join as members, connecting waste producers with advanced and mechanical recyclers through innovative supply chains,” says Agilyx.
Agilyx in 2019 entered into a partnership with General Electric through its licensing and research divisions to develop artificial intelligence, machine learning, and predictive modeling and optimization tools based on Agilyx’s data and domain knowledge to increase recycling rates for all waste plastics.
As MRC informed earlier, ExxonMobil underttook a planned shutdown at its cracker in Singapore. The company halted operations at the cracker for maintenance on September 14, 2020. The cracker was expected to remain off-line till end-October, 2020. Located at Jurong Island, Singapore, the cracker has an ethylene production capacity of 1 million mt/year and a propylene production capacity of 450,000 mt/year.
Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).
According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,760,950 tonnes in the first ten months of 2020, up by 3% year on year. Only high density polyethylene (HDPE) and linear low density polyethylene (LLDPE) shipments increased. At the same time, PP shipments to the Russian market reached 978,870 tonnes in January-October 2020 (calculated using the formula: production minus exports plus imports minus producers' inventories as of 1 January, 2020). Supply of exclusively of PP random copolymer increased.
ExxonMobil is the largest non-government owned company in the energy industry and produces about 3% of the world"s oil and about 2% of the world"s energy.
MRC