Pryme Receives Investment to Accelerate Advanced Recycling of Plastic Waste

Infinity Recycling, Invest-NL and LyondellBasell have invested in Pryme N.V., an innovative clean technology company based in Rotterdam, the Netherlands. The investor group contributed approximately EUR 13 million to support the commercialization of Pryme's pyrolysis process to transform used plastic into valuable products on an industrial scale. Pryme is currently building an advanced recycling plant in Rotterdam, which is expected to start production later this year. And it plans to build a second, larger-scale plant in 2025.

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Statements on Sustainability-Focused Company

Pryme has developed a new, cost-effective approach to pyrolysis that allows used plastic to be recycled at a high conversion rate, on an industrial scale and with a lower carbon footprint. The new capital, Pryme aims to accelerate the widespread adoption of this technology to help reduce the amount of plastic that is incinerated or ends up in the environment.

"This investment supports our strategy to grow our circular and low-carbon solutions, as we plan to use some of the pyrolysis oil produced from this new Pryme plant in our planned integrated center in Cologne," said Gabellich, Vice President Advanced Recycling and Low Carbon Solutions at LyondellBasell.