Nexus Circular announced that the company has signed a long-term commercial agreement with Chevron Phillips Chemical (CPChem) for the supply of a significant volume annually of circular liquid feedstocks from a new advanced recycling facility.
Difficult-to-Recycle Plastics into New Products
This long-term contractual commitment further strengthens CPChem’s relationship with Nexus for advanced recycled plastic feedstocks to produce Marlex® Anew™ Circular Polyethylene. Nexus has been supplying CP Chem for over two years with consistent bulk shipments of ISCC PLUS certified materials.
In December 2021, Six Pines Investments LLC, a wholly owned sustainable investment subsidiary of CP Chem, made a meaningful investment in Nexus to expand production at the Atlanta, Georgia, facility. Both companies are continuing discussions for future new expansion commitments.
CPChem is targeting an annual production volume of 1 billion pounds of Marlex® Anew™ Circular Polyethylene by 2030. The proven, fully commercialized advanced recycling technology from Nexus repeatedly transforms difficult-to-recycle plastics into pristine new products to accelerate the transition to a circular economy for plastics.
Justine Smith, senior vice president of Petrochemicals at CPChem said: “This contract with Nexus supports the transformation of used plastic into a new, useful resource, helping position CPChem to further scale our circular polymers program and deliver products the world needs for years to come.”
Clint Thompson, chief commercial officer at Nexus, stated, “Nexus is delivering real-world scalable solutions to meet the outsized demands for virgin-quality recycled plastics. We are thrilled to collaborate with CPChem as we rapidly expand our innovation footprint.”