Atlanta-based Nexus Circular, a plastic scrap-to-virgin polymers conversion company, says it has received “a meaningful investment” from Texas-based Six Pines Investments LLC, a subsidiary of Chevron Phillips Chemical Co. LLC. (CPChem).
Citing “outsized demand for circular plastics made from waste,” Nexus also says it has continued to ramp up production at its Atlanta commercial plant. The firm says it has now produced some 2,250 tons and counting of “consistent, International Sustainability and Carbon Certification (ISCC) Plus-certified output produced and sold to clients who create virgin, recycled-content resins for their customers.”
Calling CPChem “a leader in production of such resins in the United States,” Nexus says the global company has identified it “as an important collaborator” in reaching its goal of 500,000 tons of circular polyethylene offered annually by 2030.
Benny Mermans, vice president sustainability at CPChem, comments, “Nexus and CPChem share a common goal to divert plastic waste from the environment. Waste plastics should not end up in the environment, as they can be circularly recycled into new plastics for use across a wide array of applications. We are pleased to be working with, and now invested in, Nexus. This investment will accelerate the rollout of our Marlex Anew Circular Polyethylene products across the U.S. and the world.”
Says Eric Hartz, president and co-founder of Nexus, “To help reduce waste plastics, Nexus has remained focused on a solution that is economic and scalable. We have now executed on this plan and have proven it works. We are fortunate to have a like-minded collaborator in Six Pines, willing to support our rapid growth, as companies’ announced dates for meeting recycled-content goals approach quickly.”
Nexus says to date it has converted the equivalent of more than 35 million grocery bags of plastic scrap that would have otherwise ended up in landfills. Nexus says its process can handle hard-to-recycle films and is “infinitely circular since advanced recycling is done at the molecular level and does not deteriorate over cycles.”