Investment in US chemical recycler Nexus CircularNexus converts landfill-bound plastics into circular feedstocks (Photo: Nexus)Brazilian petrochemicals and plastics producer Braskem
(Sà£o Paulo; www.braskem.com
) said it has acquired a minority stake in US chemical recycling specialist Nexus Circular
(Atlanta, Georgia; www.nexuscircular.com
). Details of the deal were not disclosed.
Nexus converts landfill-bound plastics into circular feedstocks for production of sustainable virgin plastics used in packaging and other applications. Its other investors include Cox Enterprises
, Chevron Phillips Chemical
, and Printpack
The move is in keeping with Braskemâ??s plans for a carbon neutral circular economy, for which the company has set targets to grow the recycled content product portfolio â??to sales of 300,000 t by 2025 and 1 mn t by 2030â?.
With 41 industrial units in Brazil, the US, Mexico, and Germany, Braskem employs 8,000 and exports to more than 80 countries.14.02.2022 Plasteurope.com [249637-0]