07-02-2023

Chevron Phillips Chemical secures long term supply of advanced recycled plastic feedstocks

Nexus Circular today 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. 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 CPChem 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 CPChem, made a meaningful investment in Nexus to expand production at the Atlanta, Georgia, facility. Both companies are continuing discussions for future new expansion commitments.

Nexus Circular is a commercial leader in advanced recycling with a proven proprietary technology and a leading process design that converts landfill-bound films and other hard-to-recycle plastics into high-quality liquids which are then used to produce virgin-quality circular plastics. Since 2018, Nexus has been consistently supplying commercial volumes of circular liquid products, having diverted over 8 million pounds of used plastics from landfill.

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."