ExxonMobil: to build recycling facility in Texas
(CercleFinance.com) - ExxonMobil announced on Monday that it plans to build its first large-scale plastic waste recycling site, a project that it intends to develop in Baytown, Texas.
The facility, which is based on technology developed by ExxonMobil to convert waste plastics into raw materials, is a continuation of a pilot scheme that has already processed 1,000 tonnes of plastic, the equivalent of 200 million plastic bags.
With an annual capacity of 30,000 tonnes, the Baytown site will be one of the largest recycling centers in the United States.
Pending its commissioning by the end of 2022, a smaller temporary unit has begun operations, aiming to manufacture certified circular economy polymers, which the US energy group says are in increasing demand.
Seems promising... the share is up over 1.5% in pre-market trading today.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The facility, which is based on technology developed by ExxonMobil to convert waste plastics into raw materials, is a continuation of a pilot scheme that has already processed 1,000 tonnes of plastic, the equivalent of 200 million plastic bags.
With an annual capacity of 30,000 tonnes, the Baytown site will be one of the largest recycling centers in the United States.
Pending its commissioning by the end of 2022, a smaller temporary unit has begun operations, aiming to manufacture certified circular economy polymers, which the US energy group says are in increasing demand.
Seems promising... the share is up over 1.5% in pre-market trading today.
Copyright (c) 2021 CercleFinance.com. All rights reserved.