01 July 2025
LyondellBasell, one of the world's largest chemical companies, announced a strategic alliance with Technip Energies today to build an advanced recycling plant in Ferrara, Italy. The partnership represents a breakthrough in the shift towards the circular economy in Europe's petrochemicals industry as companies push to achieve tight sustainability goals and tap into expanding demand for recycled plastics. According to the European Plastics Recyclers Association, future advanced recycling technologies will be able to complement mechanical recycling and boost the total recycling rate from the current 32% up to more than 50% by 2030. The Circular Economy Action Plan of the European Commission and the newly launched Clean Industrial Deal further enhance the regulatory environment backing such innovations.
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