HomeNewsAscend buys majority stake in recycler Circular Polymers

Ascend buys majority stake in recycler Circular Polymers

Ascend Performance Materials, Houston, has acquired California-based Circular Polymers, a recycler of postconsumer, high-performance polymers, including polyamide 6 and 66, polypropylene, and polyester (PET).

According to a news release from Ascend, the deal provides Ascend with a consistent supply of high-quality postconsumer resins for its ReDefyne sustainable polyamides, launched at K 2022, a trade fair for plastics and rubber.

Circular Polymers, which as part of the deal is renamed Circular Polymers by Ascend, reclaims and processes post-consumer carpet via a unique technology and has redirected about 85 million pounds of material from landfills into new goods since 2018.

“We are focused on helping our customers reach their sustainability goals and Circular Polymers by Ascend provides materials that offer strong performance with a considerably smaller environmental footprint, compared with other technologies like pyrolysis,” says Phil McDivitt, president, and CEO of Ascend. “Since we launched ReDefyne, the demand for our circular products has been significant across all segments of our business, including automotive, consumer, electronics, and high-performance fibers and textiles.”

Ascend, a fully integrated producer of durable materials has a sustainability strategy based on three pillars: empowering people, innovating solutions, and operating without compromise.

Ascend says it has committed to reducing its greenhouse gas emissions by 80 percent by 2030 and recently announced two new efforts to reduce the carbon footprint of its products.

Further details of the deal were not disclosed. David Bender, founder, and CEO of Circular Polymers will hold the remaining equity interest and stay on as CEO of the company.

“Since 2018, we have focused on improving the sourcing and processing of post-consumer high-performance polymers,” Bender says. “Having Ascend on board will accelerate our growth and ensure these materials go back into new long-term, high-performance applications.”

If you want to share any article ideas, company news, and any information with us? So don’t hesitate to contact us: contact@newsrecycling.com

RELATED ARTICLES

Most Popular

Recent Comments