08:57 AM EST, 11/21/2024 (MT Newswires) -- Exxon Mobil ( XOM ) said Thursday it intends to invest over $200 million to expand its advanced recycling operations in Texas.

The company said the investment will add advanced recycling capacity of 350 million pounds per year at its Baytown and Beaumont sites, bringing its annual total capacity to 500 million pounds.

Expected to start up in 2026, the new operations can help boost advanced recycling rates and divert plastic from landfills, Exxon said.

The company said it plans to build more units to achieve an annual recycling capacity of 1 billion pounds worldwide by 2027.