Philadelphia-based Braskem, a maker of polyolefins and biopolymers, announced its investment in Atlanta-based Nexus Circular LLC., an advanced recycler that converts end-of-life plastics into circular raw materials used in the production of virgin plastics. .
“At Braskem, we have a clear, long-term vision that is committed to a carbon-neutral circular economy where nothing is wasted and everything is transformed,” said Mark Nikolich, CEO of Braskem America. “A critical part of realizing this vision is investing in pathways that advance the circular conversion of hard-to-recycle plastic waste into valuable new materials, diverting it from landfill and improving our environmental footprint.”
According to a press release from Braskem, Nexus converts a range of hard-to-recycle plastics, particularly plastic films destined for landfill, into its circular raw materials, which can then be converted back into virgin plastics. Nexus has leveraged technology to create a highly efficient system delivering cost-effective, premium quality and environmentally friendly products to its partners and customers.
“We are thrilled to have Braskem join Nexus’ advanced recycling efforts and receive their support to accelerate our impact and growth around the world,” said Eric Hartz, President and Co-Founder of Nexus Circular.
Braskem says the investment in Nexus is one part of the company’s strategy to drive plastics circularity, which includes projects targeting recycling infrastructure, mechanical recycling and advanced recycling. In addition to expanding 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 says it has clear goals to grow its recycled content product portfolio to sales of 300,000 tonnes by 2025 and 1 million tonnes by 2030. The company says the initiatives in which it invests align with its commodity diversification strategy and its macroeconomic goals of expanding the economy concept into the plastics chain and becoming a carbon-neutral business by 2050.