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Exxon Mobil plans to invest $0.2 billion in its Texas plant to expand plastics recycling and utilization.
On November 21, Gelonghui reported that Exxon Mobil announced on Thursday it would expand plastics recycling by using discarded bottles and bags instead of fossil fuels. The company supports pyrolysis technology that converts waste into new plastics and will invest $0.2 billion in Texas to expand its so-called "circular operation" to establish the capability of processing 1 billion pounds of waste annually by 2027. The company named its recycling technology "Exxtend." In September of this year, California sued Exxon Mobil, accusing the company of deliberately misleading the public about the limitations of recycling. Exxon has denied the allegations.
Sector Update: Energy