Braskem invests in Nexus Circular to accelerate advanced plastics recycling
Braskem’s investment supports the goal of a circular economy where hard-to-recycle plastic waste is captured as a valuable feedstock for new materials.
Braskem, the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, has announced its investment in Nexus Circular, a commercial leader in advanced recycling that converts landfill-bound plastics into circular feedstocks used in the production of sustainable virgin plastics.
Mark Nikolich, chief executive, Braskem America, stated: “At Braskem we have a clear, long-term vision which is committed to a Carbon Neutral Circular Economy where nothing is wasted, and everything is transformed. A critical element of achieving this vision is investing in pathways that advance the circular conversion of hard-to-recycle plastic waste to valuable new materials, diverting it from landfills and improving our environmental footprint. Nexus shares our vision for accelerating the commercialization of advanced recycling with their own proprietary innovations and we couldn’t be more excited to be a new investor in their journey.”
Eric Hartz, president and co-founder at Nexus Circular, said: “We are so pleased to have Braskem join Nexus’ advanced recycling endeavours and receive their support to accelerate our impact and growth worldwide.”
Using a proprietary advanced recycling technology, Nexus converts a range of hard-to-recycle plastics especially landfill bound plastic films into its circular feedstocks which can then be converted back into virgin plastics (fully circular). Nexus has optimised the technology to create a highly efficient and economic system providing cost-effective, superior quality and environmentally friendly products for its partners and customers.
The investment in Nexus is one component of Braskem’s strategy to drive plastics circularity, which includes projects aimed at recycling infrastructure, mechanical recycling, and advanced recycling – all of which are critical to meeting Braskem’s and our clients’ ESG commitments in the years to come. In addition to the expansion of Braskem’s recycled product portfolio in 2021, Braskem is also a founding member of the Alliance to End Plastic Waste, The Recycling Partnership’s Polypropylene Recycling Coalition and Cyclyx.
Braskem said it is strongly committed to a Carbon Neutral Circular Economy where nothing is wasted, and everything is transformed. To support this vision for the future Braskem has clearly stated targets for growing the company’s recycled content product portfolio to sales of 300,000 tons by 2025 and 1 million tons by 2030. Braskem’ transition to a circular economy is deeply rooted in mechanical and advanced recycling solutions. By engaging and investing in partnership with other members of the value chain the company is strengthening mechanical and advanced recycling, overcoming barriers and ensuring the increased production of high-quality recycled material.
All these initiatives are aligned with Braskem’s feedstock diversification strategy and its macro goals of expanding the circular economy concept in the plastic chain and becoming a carbon-neutral company by 2050.
Source: Packaging News