Month: September 2024

Symbolic foundation stone laying LYB MoReTec-1

Catalytic pyrolysis unit in heart of Europe to bolster sustainable growth, value creation

• Chancellor Scholz, top elected officials attend milestone event; celebrate company commitment to Cologne region
• Proprietary LYB MoReTec technology enables scalable solution to recapture valuable raw materials from hard-to-recycle plastics often destined to landfill, incineration
• Unit’s design and process technology enable high plastic-to-plastic yield; allow for operation under 100% renewable power, helping reduce GHG emissions

WESSELING, Germany, Sept. 19, 2024 (GLOBE NEWSWIRE) — LyondellBasell (NYSE: LYB) today advanced its journey toward sustainable growth and value creation by laying the foundation of its first, catalytic advanced recycling plant at its Wesseling, Germany site. German Chancellor Scholz and Minister-President Wüst attended the celebrations, underscoring the project’s importance for both the region’s and Germany’s goals for a circular, low carbon economy.
Targeted startup for the new unit is set for 2026, as part of the company’s strategy to build a profitable Circular and Low Carbon Solutions business.

Using LYB proprietary MoReTec technology, this plant will be the first commercial scale, single-train advanced recycling plant, designed to demonstrate its capability for further scalability. This unit will convert pre-treated, mixed waste plastic into raw materials to produce new plastic polymers that will be sold under the LYB CirculenRevive brand. These polymers complement the company’s offerings in mechanically recycled and renewable-based polymers marketed respectively under CirculenRecover and CirculenRenew branding.

“Germany is a strong location for the chemical industry and the new LYB plant in Wesseling represents the future viability of this industry. As the first large-scale industrial plant for chemical plastic recycling, it is a significant step towards a circular economy”, said Federal Chancellor Olaf Scholz. “The German government is committed to strengthening and further enhancing Germany as a location for the chemical industry.”

“With investments like these, we are creating solutions and addressing rising demand for more sustainable products from our customers and society,” said LYB CEO Peter Vanacker. “The new facility has the potential to turn back hard to recycle, processed mixed plastic waste of more than 1.2 million German citizens into valuable raw materials to make new products. And this is only the first unit that we are building, we are already working on our future MoReTec plants.”

LYB anticipates its MoReTec technology will gradually help shift the use of traditional fossil-based raw materials toward circular resources. Further, the catalytic nature of the technology allows it to conserve energy and significantly lower greenhouse gas emissions, while serving as a blueprint for future investments. LYB received a 40 million euro grant from the EU Innovation Fund for the project¹.

Vanacker also called for improved support of European industry. “It’s essential we have policies that stimulate demand for sustainable and circular materials. As we make these significant investments in our future, we need a firm, reliable pathway to ensure confidence,” Vanacker said, echoing the Antwerp Declaration for an Industrial Deal, which he presented with other business leaders to European Commission President Ursula von der Leyen in February of this year.

¹
DISCLAIMER
Funded by the European Union. Views and opinions expressed are however those of the author(s) only and do not necessarily reflect those of the European Union or the European Climate, Infrastructure and Environment Executive Agency. Neither the European Union nor the granting authority can be held responsible for them.

For media inquiries, please contact:
Media Inquiries
LyondellBasell Media Relations
Phone: +1 713 309 7575
Email: mediarelations@lyondellbasell.com

Editors notes:

• The planned investment is in the range of several hundred million Euros.
• This represents a major milestone for our advanced recycling technology and overall sustainability, supporting reaching LYB goal to produce and market at least 2 million metric tons of recycled and renewable-based polymers annually by 2030
• The new plant is expected to have an annual capacity of 50,000 metric tons per year. It is critical to help divert plastics otherwise destined to landfill and/or incineration and turn them back into valuable, raw materials.
• The facility addresses customer demand at scale for higher quality, low carbon, drop-in solutions.
• The advanced recycled feedstock produced by the MoReTec facility will be used for the production of polymers sold by LYB under the CirculenRevive brand for use in a wide range of applications, including medical and food packaging.
• Additional investments are planned at a circular hub that LYB plans to build close to the Wesseling plant region. Other regional projects include:
  • a joint venture in Lower Saxony that will turn post-consumer, mixed plastic waste into raw materials for mechanical and advanced recycling
  • a closed-loop recycling center in Hesse to process plastic parts from cars and household appliances
  • an agreement to become full owner of solvent-based recycling company APK in Saxony-Anhalt region.
• Additional quotes:

“Today is an important day for the future of our industry location. The plant is more than just a construction project – it is a symbol of the successful transformation towards a sustainable and innovative industry. With this investment, LYB is demonstrating that our federal state is an attractive location for leading companies that are ready to tackle the challenges of the future,” says Mona Neubaur, Minister for Economic Affairs, Industry, Climate Action and Energy of the State of North Rhine Westphalia. “The technologies that are being developed here will make a significant contribution to strengthening our competitiveness and creating a more sustainable economy. We are proud to be taking this path together and I look forward to the positive momentum that will come from this project.”

“North Rhine-Westphalia is Germany’s largest chemical location – and one of the most innovative on the road to climate neutrality. We want to remain a strong industrial state and at the same time become climate neutral. With the groundbreaking of LYB MoReTec-1, LYB is providing important and forward-looking impetus for a strong circular economy in the plastics and chemical industry,” says Hendrik Wüst, Minister President of North Rhine-Westphalia. “Only by working together can we strengthen North Rhine-Westphalia as a research and industrial location and expand our leading position in the field of chemical recycling. To do this, the chemical industry in particular needs better framework conditions, in Europe and at the federal level.”

About LyondellBasell 

We are LyondellBasell (NYSE: LYB) – a leader in the global chemical industry creating solutions for everyday sustainable living. Through advanced technology and focused investments, we are enabling a circular and low carbon economy. Across all we do, we aim to unlock value for our customers, investors and society. As one of the world’s largest producers of polymers and a leader in polyolefin technologies, we develop, manufacture and market high-quality and innovative products for applications ranging from sustainable transportation and food safety to clean water and quality healthcare. For more information, please visit www.lyondellbasell.com or follow @LyondellBasell on LinkedIn.

Forward-Looking Statements
The statements in this release relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject to significant risks and uncertainties. Actual results could differ materially based on factors including, but not limited to, our ability to meet our sustainability goals, including the ability to increase production of recycled and renewable-based polymers to meet our targets and forecasts, and reduce our emissions and achieve net zero emissions by the time set in our goals; our ability to build a profitable Circular & Low Carbon Solutions business; and the successful construction within the anticipated timing, and operation of the facilities described in this release. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the “Risk Factors” section of our Form 10-K for the year ended December 31, 2023, which can be found at www.LyondellBasell.com on the Investor Relations page and on the Securities and Exchange Commission’s website at www.sec.gov.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cbb73965-ee89-4032-b4b0-973ad94dbf49

GlobeNewswire Distribution ID 9233529

SYDNEY, Sept. 19, 2024 (GLOBE NEWSWIRE) — Axi, a leading global Forex and CFD broker, has announced the continuation of its collaboration with England international John Stones. Since partnering with the Man City star, Stones has continued to have unparalleled success on the field. The season ended with his club winning the Premier League championship for the fourth consecutive time – the first time a Premier League club has ever achieved this.

Hannah Hill, Head of Brand and Sponsorship at Axi, states, “We are beyond thrilled to renew our collaboration with our Brand Ambassador, John Stones. Last year, we witnessed football at its finest as our longtime partners, Man City, accomplished a historic milestone, winning four back-to-back the Premier League titles. With over 250 appearances for Man City, John’s remarkable skills and commitment to finding the competitive edge perfectly aligns with our values and ambitions. Just like John, we are dedicated to excellence and to sharpening our edge. We look forward to another awesome season and greater successes.”

Back in January, Axi launched their first player activation with John Stones for their Spread Betting campaign. Targeted exclusively at the UK audience, the activation featured John Stones reflecting on some of his most iconic moments on the field.

In addition to John Stones, Axi has been the Official Online Trading Partner of Premier League Champions, Man City for both the men’s and women’s teams, as well as City Football Group (CFG) Brazilian football club, Esporte Clube Bahia. Recently, the broker also announced a renewal of their partnership with CFG owned LaLiga club Girona FC, as the club’s Official LATAM Online Trading Partner for two more seasons.

About Axi

Axi is a global online FX and CFD trading company, with thousands of customers in 100+ countries worldwide. Axi offers CFDs for several asset classes including Forex, Shares, Gold, Oil, Coffee, and more.

Contact: mediaenquiries@axi.com

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 68.5% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

GlobeNewswire Distribution ID 1000992331

VICTORIA, Seychelles, Sept. 18, 2024 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, has released an extensive report outlining the current state and development traction of the TON ecosystem, while highlighting its existing shortcomings and potential future threats. The report by Bitget starts by mentioning TON’s 900 million active user base, mostly from the CIS countries, particularly Russia and Ukraine, trailed by India, Brazil and the US. The network is host to over 1,159 projects, including cross-chain bridges, DeFi, launchpads, and other types of services.

The TON ecosystem has experienced a 12x spike from 100,000 to 1.2 million in daily transaction volume over the year. TVL currently stands at $350 million, up 18 times (approx. 1800%) in under 6 months, driven by DEX trading volume growth, from $2 to $40 million from the start of the year. The growing adoption of the ecosystem also spurred the native TON token’s price to an average of $5.5.

“TON’s ecosystem is rapidly gaining traction, particularly among tech-savvy enthusiasts eager to explore its innovative approach to decentralized solutions. At Bitget, we’ve witnessed a significant influx of users participating in TON-related projects, driven by its unique community engagement and seamless integration with exchanges. Recent standout projects such as DOGS have attracted massive interest, and with exciting upcoming launches like CATI and HMSTR, we’re committed to supporting and fostering the growth of these groundbreaking initiatives,” said Gracy Chen, CEO of Bitget.

The report shows TON’s extensive integration with Telegram, which has led to the popularization of multiple on-chain gaming apps and bots, contributing to massive user influx and trading volume rises. The ecosystem has also been active in terms of collaboration with USDT through the TON Foundation, as well as HashKey Group, Fireblocks, DWF Labs, and others.

The TON ecosystem’s attractiveness is based on its significant differences from Ethereum, offering a multi-chain architecture, asynchronous smart contract calls, proxy solutions, and more. The report highlights that the unique features of TON open up enormous growth potential for the system.

“Integrating with the TON and Telegram ecosystem has been a game changer for Bitget Wallet. By tapping into Telegram’s vast user base, we’ve seamlessly bridged Web2 and Web3, creating a smooth and accessible experience for millions,” said Alvin Kan, COO at Bitget Wallet. “This has fueled our growth to over 30 million user base with 12 million monthly active users, and makes us the No. 1 Web3 wallet by app downloads worldwide. It’s clear that the future of Web3 lies in making it intuitive and integrated with platforms people are already familiar with,” he added.

Bitget Wallet is now used by 68% of Telegram game users, contributing 17% of active addresses on the TON network in the current month. By seamlessly integrating with Web2 social platforms like Telegram, Bitget Wallet became the Most Downloaded Web3 wallet for two consecutive months, and surpassed 12 million monthly active users.

Nevertheless, TON suffers from low trading activity and poor lending options. DeFi, lending, gaming and other sectors push demand for the ecosystem’s services. To counter slow growth, the TON ecosystem will have to address its DeFi shortcomings, expand beyond the CIS, and tackle regulatory challenges.

This Bitget report concludes by stating that the TON blockchain will continue to rely on the user base of Telegram, but will likely trend towards “de-Telegramization” in the long run to mitigate regulatory risks associated with Telegram. Other projections mentioned in the report state that the TON token is expected to rise in tandem with broader market trends, and the development of the TON ecosystem will attract more traditional users to the cryptocurrency market.

For more information, access the full report here.

About Bitget
Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 30 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team).

For more information, visit: Website | Twitter | Telegram | LinkedIn | Discord | Bitget Wallet

For media inquiries, please contact: media@bitget.com

Risk Warning: Digital asset prices may fluctuate and experience price volatility. Only invest what you can afford to lose. The value of your investment may be impacted and it is possible that you may not achieve your financial goals or be able to recover your principal investment. You should always seek independent financial advice and consider your own financial experience and financial standing. Past performance is not a reliable measure of future performance. Bitget shall not be liable for any losses you may incur. Nothing here shall be construed as financial advice. For more information, see our Terms of Use.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a8ab7b55-0e03-4ffd-a96e-17a13de5dc67

GlobeNewswire Distribution ID 1000992675

Mitel selects Zoom to jointly develop an exclusive hybrid offering with bi-directional capabilities between Zoom Workplace and Mitel communications platforms; enables Mitel customers with a path to transition to Zoom UCaaS on their terms

SAN JOSE, Calif., Sept. 18, 2024 (GLOBE NEWSWIRE) — Today, Zoom Video Communications, Inc. (NASDAQ: ZM) and Mitel, a global leader in business communications, announced a strategic partnership designed to empower enterprises worldwide with a unique hybrid cloud solution that combines Zoom Workplace and Zoom AI Companion with Mitel’s flagship communications platform in a modern, deeply integrated communication experience. The partnership will address growing enterprise demand for hybrid unified communications (UC) deployments with a “best-of-both-worlds” solution that delivers security and control for mission-critical communications alongside exceptional collaboration to enhance business productivity. The partnership will introduce a Zoom-first experience within Mitel’s hybrid portfolio, including access to the full Zoom Workplace platform, which works seamlessly with existing Mitel investments.

Modern work continues to evolve, with 82% of leaders planning to make their working styles more flexible in the next two years.* As these changes and the desire to improve employee productivity and customer engagement accelerate, the demand for greater flexibility and modern collaboration solutions is increasing. Enterprises need AI-first solutions that will help drive their business forward, while also maintaining a level of control, regulatory compliance, and security for their mission-critical communications. This complex balance of control and flexibility is prompting 91% of enterprises to prioritize a hybrid approach for their business communications.**

Leveraging Mitel’s Common Communication Framework, the unique Zoom-Mitel offering will deliver a fully embedded, feature-rich experience without add-ons or plug-ins, including UC and mobile app integration, hardware device-level integration, and advanced business process capabilities like bi-directional presence, call-to-video escalation, and centralized user provisioning and administration. Additionally, users will gain access to Zoom Phone with embedded support for Mitel PBX platforms, whether deployed on-premises or in the cloud. It also creates a compelling opportunity for Mitel’s more than 70 million global end-users to elevate their collaboration experience by allowing them to seamlessly access Zoom AI Companion***, Meetings, Team Chat, and more while leveraging their existing Mitel investments.

Partnership highlights:

• Establishes Zoom as Mitel’s exclusive UCaaS offering within its overall UC portfolio for customers of all sizes.
• Enables Mitel’s sales teams and over 7,000 partners globally to cross-sell the Zoom-first experience as a core part of the unique hybrid solution or to help customers migrate to Zoom if UCaaS is their preferred deployment model.
• Enables Zoom sales teams to sell Mitel’s award-winning devices for Mitel hybrid customers requiring physical endpoints.
• Supports growing customer demand for hybrid capabilities that “just work” across on-premises and private and public cloud models, offering flexibility, security, and control within the enterprise.
• Provides on-premises enterprise companies an opportunity to introduce industry-leading collaboration capabilities through a model and pace that suits their needs.

“As organizations continue to prioritize hybrid UC deployments, it is critical that users across the globe have access to AI-first, reliable, and seamless collaboration solutions. Together, Zoom and Mitel are now able to address the largest segment of today’s communications market, particularly in EMEA, strengthening growth potential and enabling more users worldwide to reimagine the ways in which they work,” said Eric S. Yuan, founder and CEO of Zoom. “Like Zoom, Mitel has a customer-first approach where providing a best-in-class, collaborative working environment is of the utmost importance. I look forward to watching this partnership progress and continuing to work closely with Mitel to meet the evolving needs of our users.”

“Effective communication and collaboration are the lifeblood of modern organizations, but they become transformative when tailored to meet each customer’s unique business objectives. Flexibility and choice are at the heart of every Mitel solution and partnering with Zoom strengthens our ability to deliver on that promise for customers around the world,” said Tarun Loomba, president and CEO of Mitel. “Zoom has a deep understanding of the enterprise market and the flexibility required to support the complex, nuanced needs of today’s distributed workforce. As hybrid communications emerge as the future of business, we see this partnership as a catalyst for driving innovation and growth, together with the Zoom team.”

The joint solution will be generally available for customers in the first half of 2025. Advanced capabilities are underway as part of the multi-phase partnership plan, and continued enhancements are being planned.

“This partnership recognizes the value of hybrid communications. The reality of modern business, today, is that requirements will change and get more complex,” said Dave Michels, founder and lead analyst, TalkingPointz. “Mitel offers powerful private cloud and single-tenant voice solutions, and Zoom has excellent enterprise video and team chat. Together, they create a seamless solution without putting an integration burden on the customer. This partnership brings the best of hybrid communication to market for those looking not to sacrifice flexibility, control, and resiliency, globally.”

* According to an August 2024 global survey conducted by Zoom and Reworked INSIGHTS titled, “Navigating the Future of Work: Global Perspectives on Hybrid Models and Technology.”
** According to a June 2024 global survey of 1,954 organizations conducted by Mitel and Techaisle.
***Included at no additional cost with the paid services assigned to Zoom accounts. Zoom AI Companion may not be available for all regions and industry verticals.

About Zoom
Zoom’s mission is to provide one platform that delivers limitless human connection. Reimagine teamwork with Zoom Workplace — Zoom’s open collaboration platform with AI Companion that empowers teams to be more productive. Together with Zoom Workplace, Zoom’s Business Services for sales, marketing, and customer care teams, including Zoom Contact Center, strengthen customer relationships throughout the customer lifecycle. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and headquartered in San Jose, California. Get more information at zoom.com.

About Mitel
A global market leader in business communications powering more than two billion business connections, Mitel helps businesses and service providers connect, collaborate and provide innovative services to their customers. Our innovation and communications experts serve business users in more than 100 countries. For more information, go to www.mitel.com and follow us on LinkedIn and Twitter @Mitel.

Zoom Public Relations
Rachel Shatz
press@zoom.us

Mitel Public Relations
Trever Kerr, Americas
Sandrine Quinton, Europe and Asia
pr@mitel.com

GlobeNewswire Distribution ID 9232560