Nexus Circular achieves another waste-to-virgin plastics milestone as subsidiary of Chevron Phillips Chemical Company LLC invests to accelerate global growth

USA - English

• USA - English

ATLANTA, Dec. 16, 2021 /PRNewswire-PRWeb/ -- Nexus Circular (Nexus), the leading circular waste-to-virgin plastics recycler, announced today a meaningful investment from Six Pines Investments LLC ("Six Pines"), a subsidiary of Chevron Phillips Chemical Company LLC ("CPChem"). In an effort to meet outsized demand for circular plastics made from waste, Nexus has continued to ramp production at its Atlanta commercial plant to a record-setting > 4.5 million lbs. (2 million kilos) of consistent, ISCC Plus certified output produced and sold to clients who create virgin, recycled-content, resins for their customers. CPChem, a leader in production of such resins in the US, has identified Nexus as an important collaborator in reaching its ambitious goal of 1 billion pounds of circular polyethylene by 2030. Six Pines' meaningful investment in Nexus is an important step in meeting this goal and in accelerating the transition to a circular economy for plastics.

Benny Mermans, vice president sustainability at CPChem said, "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 US and the world."

Eric Hartz, President and Co-Founder of Nexus added, "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."

To date, Nexus has diverted the equivalent of over 35 million grocery bags of waste plastics that would have otherwise ended up in landfills. Instead, these plastics are converted into new recycled-content virgin plastics. Nexus' unique 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.

Nexus also recently became a member of the American Chemistry Council's Advanced Recycling Alliance for Plastics, which focuses on effectively and efficiently recycling waste plastics with proven solutions. Advanced recycling plays a critical role in helping companies meet their ESG objectives and in advancing the EPA's focus on significantly improving recycling rates.

For more information, visit nexuscircular.com.

About Nexus:
Nexus is the leading operational, commercially scaled converter of waste plastics to feedstocks, which in turn are converted back to virgin plastics. Nexus is rapidly rolling out plants globally with a limited set of partners ready to move quickly and with purpose to address the plastics waste problem, which many seek a real, proven solution today. The process is an environmentally friendly (no wastewater, nor air issues) end-to-end business, including engineering, software, front-end waste plastic sorting, all regulatory requirements (EPA, State, Local)/ISCC Plus certification, training/safety, and strategic pricing/positioning, guided by financially driven metrics. Operational and economically proven, Nexus has produced and shipped consistent, on-spec tanker loads of products to large global partners who blend it in their current streams and convert to virgin plastics. Nexus is located in Atlanta, Georgia. For more information, visit nexuscircular.com.

About Six Pines
Six Pines Investments LLC is a wholly-owned, sustainable investment subsidiary of Chevron Phillips Chemical Company LLC ("CPChem"), one of the world's top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. With approximately 5,000 employees, CPChem and its affiliates own more than $17 billion in assets, including 31 manufacturing and research facilities in six countries. CPChem is equally owned indirectly by Chevron Corporation U.S.A. Inc. and Phillips 66 Company, and is headquartered in The Woodlands, Texas. For more information about CPChem, visit http://www.cpchem.com. Also, follow us on Twitter: @chevronphillips.

Media Contact

Melanie Anderson, Pitch Public Relations, +1 480.225.7148, [email protected]

SOURCE Nexus