Deal underscores Ascend’s dedication to low-carbon polyamides and engineered supplies.
HOUSTON, Nov. 8, 2022 /PRNewswire/ — Ascend Performance Materials has bought a majority stake in California-based Circular Polymers, a recycler of post-consumer, high-performance polymers together with polyamide 6 and 66, polypropylene and polyester (PET). The deal offers Ascend with a constant provide of high-quality PCR supplies for its ReDefyne™ sustainable polyamides, launched at K 2022.
Circular Polymers, which as a part of the deal is renamed Circular Polymers by Ascend, reclaims and processes post-consumer carpet through a singular know-how and has redirected roughly 85 million kilos of waste from landfills into new items 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 to other technologies like pyrolysis,” stated 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 totally built-in producer of sturdy supplies, has a sustainability technique primarily based on three pillars: empowering folks, innovating options and working with out compromise.
Ascend has dedicated to lowering its greenhouse fuel emissions by 80% by 2030 and not too long ago introduced two new efforts to cut back the carbon footprint of its merchandise.
David Bender, founder and CEO of Circular Polymers, will maintain the remaining fairness and keep on as CEO of the corporate.
“Since 2018, we have focused on improving the sourcing and processing of post-consumer high-performance polymers,” stated Mr. Bender. “Having Ascend on board will accelerate our growth and ensure these materials go back into new long-term, high-performance applications.”
Further particulars of the deal weren’t disclosed.
About Ascend Performance Materials
Contact: Ally Jahn, +1 713-210-9809, [email protected]
Photo – https://mma.prnewswire.com/media/1941660/Circular_Polymers_by_Ascend_Acquisition.jpg
Logo – https://mma.prnewswire.com/media/1941661/CP_Ascend_Logo.jpg
View authentic content material:https://www.prnewswire.co.uk/news-releases/ascend-buys-majority-stake-in-recycler-circular-polymers-301671809.html
