Portsmouth, New Hampshire-based Cyclyx International has announced that Calgary, Alberta-based Nova Chemicals has joined its consortium, which seeks to increase the global recycling rate or landfill diversion rate of plastic from 10 percent to 90 percent.
Nova Chemicals develops and manufactures chemicals and polyethylene (PE) plastic resins and says it “works toward PE solutions that enable a more circular economy for plastics.” Through its membership in Cyclyx, Nova says it will continue its work to use more discarded plastic in its feedstock supply chain.
“Nova Chemicals has a bold ambition to create a plastics circular economy and work collaboratively toward a low-carbon, zero plastic waste future,” says Greg DeKunder, a vice president with Nova. “Joining the Cyclyx consortium provides us with greater supply reliability, accelerating our ability to meet the demands of consumers for high-quality products made with postconsumer resin.”
Joe Vaillancourt, CEO of Cyclyx, says, “We’re excited to welcome Nova Chemicals to the Cyclyx consortium. Their dedication to keeping plastics out of our natural environment and redesigning plastic products for optimal recycling or recovery is in line with everything that Cyclyx is working to achieve. Their membership will be a great addition to our mission to help increase the recycling rate of plastic from 10 percent to 90 percent.”
Cyclyx was founded by Agilyx Corp. and ExxonMobil Chemical Co. Nova Chemicals is wholly owned by Abu Dhabi, United Arab Emirates-based Mubadala Investment Co.