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Six Pines Investments LLC purchases stake in top plastics recyclers to accelerate transformation to a circular economy for plastics

THE WOODLANDS, Texas--(BUSINESS WIRE)--Six Pines Investments LLC (“Six Pines”), a wholly-owned, sustainable investment subsidiary of www.cpchem.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 @chevronphillips.

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, for 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.

About Mura

Mura Technology intends to become the world’s leading producer of recycled hydrocarbons, creating a circular economy for plastic, whilst helping to decarbonize the petrochemical industry and eliminate global plastic pollution. We are pioneering a scalable process to divert waste plastic away from incineration, reduce carbon emissions and prevent millions of tons of plastic from entering the natural environment every year, turning the $120 billion lost resource of plastic waste into a valuable global commodity.

Our process, HydroPRS™ (Hydrothermal Plastic Recycling System), creates a much wider scope for recycling all types of plastic, including flexible, multi-layered film and post-consumer, contaminated materials. By diverting these materials away from incineration and landfill and into recycling, we decouple the manufacture of new plastics from fossil-sourced feedstock – helping to decarbonize the petrochemical industry. We are partnering with the entire plastic recycling value chain, including international consumer brands, resin producers and waste management companies to scale our process worldwide. This feeds a sustainable circular economy and strives towards Net Zero. Our ambition is to have 1,000,000 tons of plastic recycling capacity in operation or development by 2025. The company is based in London, U.K.

Publication date: 16/12/2021

Business Wire

This project has been co-funded with the support of the LIFE financial instrument of the European Union [LIFE17 ENV/ES/000438] Life programme

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Last update: 2020-07-14