London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950

Our Clients

Order Informer

Home > News >

Chevron Phillips joins chemical recycling group Cyclyx

July 07/2021

MOSCOW (MRC) -- Chevron Phillips Chemical joined Cyclyx, a consortium-based feedstock management company as a founding member, said Cyclyx.

Cyclyx International, a consortium-based feedstock management company with a mission to help increase the recycling rates of post-use plastic from 10% to 90%, announced that Chevron Phillips Chemical (CPChem) has joined Cyclyx as a founding member.

CPChem is a leading chemical company and at the forefront of cultivating a circular economy for plastics. The company has announced plans for an annual production volume of 1 billion pounds of its ISCC PLUS certified Marlex Anew Circular Polyethylene by 2030.

CPChem will actively contribute to Cyclyxs ongoing efforts to build and enhance its programs by having Dr. Ron Abbott, CPChems sustainability technology manager, serve on the Cyclyx executive advisory board.

"I am impressed with the approach Cyclyx has initiated to increase recycling rates of plastic, and I look forward to collaborating with this expert executive advisory board, said Abbott. CPChem is working to create sustainable solutions, and we believe joining Cyclyx as a founding member will expand our capacity to produce and deliver certified circular products for years to come."

As a founding member of the consortium, CPChem joins a growing list of of companies helping to foster a more sustainable future for plastics. Cyclyx provides third-party audited, circular, end-of-life pathways for post-use plastic throughout the value-chain and combines technical expertise with leading-edge technology and data analytics to help to increase plastic recycling rates. Members of Cyclyx enjoy access to innovative tools like chemical characterization of plastics and predictive modelling of feedstock sources to product pathways, custom feedstock recipes, and customized supply chains, which are designed to elevate a more circular economy for plastics.

"We couldnt be happier to have CPChem join Cyclyx as a founding member and to welcome Dr. Abbott to the executive advisory board, stated Joe Vaillancourt, CEO of Cyclyx. As a company committed to advancing solutions for a sustainable future, CPChem is a valuable participant in our mission to help increase plastic recycling rates from 10% to 90%."

As MRC informed earlier, in September 2020, Chevron Phillips Chemical, part of Chevron Corporation, deferred a final investment decision on a USD8 billion joint venture petrochemical complex project along the US Gulf Coast that was expected in 2021. The project, in partnership with Qatar Petroleum (QP), was announced in July 2019. It is slated to include a 2 million mt/year cracker and two 1 million mt/year high density polyethylene (HDPE) plants. The FID delay will also push the original target startup date past 2024.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

According to MRC's ScanPlast report, Russia's estimated PE consumption totalled 744,130 tonnes in the first four month of 2021, up by 4% year on year. Shipments of all PE grades increased. At the same time, PP deliveries to the Russian market were 523,900 tonnes in January-April 2021, up by 55% year on year. Supply of homopolymer PP and PP block copolymers increased, whereas shipments of PP random copolymers decreased.

Chevron Phillips Chemical is one of the worlds top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. With approximately 5,000 employees, Chevron Phillips Chemical and its affiliates own more than 17 billion in assets, including 31 manufacturing and research facilities in six countries. Chevron Phillips Chemical is equally owned indirectly by Chevron U.S.A. Inc. and Phillips 66 Company, and is headquartered in The Woodlands, Texas.
Author:Anna Larionova
Tags:petroleum products, crude oil, PP, PE, neftegaz, petrochemistry, Chevron, Chevron Phillips, recycling, sustainable development.
Category:General News
| More

Leave a comment

MRC help


 All News   News subscribe