Exxon Mobil to invest $200M to expand recycling operations in Texas

Exxon Mobil (XOM) plans to invest more than $200M to expand its advanced recycling operations at its sites in Baytown and Beaumont, Texas. The new operations are expected to start up in 2026 and can help increase advanced recycling rates and divert plastic from landfills. The company plans to build additional units to reach a global recycling capacity of 1B pounds per year by 2027. The investment will add 350M pounds per year of advanced recycling capacity at Baytown and Beaumont, bringing ExxonMobil’s total capacity to 500M pounds per year. The company is continuing to develop additional advanced recycling projects at manufacturing sites in North America, Europe and Asia, with the goal of reaching 1B pounds per year of recycling capacity globally by 2027. ExxonMobil has advanced recycling customers in more than 15 countries across multiple sectors, including food-safe packaging and pet food, and demand is increasing. Advanced recycling complements traditional, mechanical recycling by transforming plastic waste into raw materials that can be used to make many valuable products – from fuels to lubricants to high-performance chemicals and plastics. Advanced recycling can address a broader range of plastic waste that won’t be mechanically recycled and may otherwise be buried or burned. Advanced recycling is a vital element of a circular economy. Circularity includes the entire life cycle of plastics, from designing products to be more easily recycled to improving waste management systems.