The transaction underscores Ascend's commitment to low-carbon engineering materials and polyamides.
HOUSTON, Nov. 8, 2022 /PRNewswire/ -- Ascend Performance Materials has acquired a majority interest in California-based Circular Polymers, a recycler of high-performance post-consumer polymers including polyamide 6 and 66, polypropylene and polyester (PET) . The deal provides Ascend with a steady supply of high-quality PCR materials for its ReDefyne™ sustainable polyamides, launched at K 2022.
Circular Polymers, renamed Circular Polymers by Ascend as part of the agreement, reclaims and processes post-consumer carpet through unique technology and has redirected approximately 85 million pounds of waste from landfills into new goods since 2018.
"We are focused on helping our customers achieve their sustainability goals, and Circular Polymers by Ascend provides materials that offer strong performance with a significantly smaller environmental footprint, compared to other technologies such as pyrolysis," said Phil McDivitt, President and CEO. Ascend delegate. "Since we launched ReDefyne, demand for our circular products has been significant across all segments of our business, including automotive, consumer, electronics, and performance fibers and textiles."
Ascend, a fully integrated producer of durable materials, has a three-pillar sustainability strategy: empower people, innovate solutions, and operate without compromise.
Ascend has committed to reducing its greenhouse gas emissions by 80% by 2030 and has recently announced two new bridging efforts.
David Bender, founder and CEO of Circular Polymers, will hold the remaining capital and remain CEO of the company.
“Since 2018, we have been focused on improving the sourcing and processing of high-performance post-consumer polymers,” said Bender. "Having Ascend on board will accelerate our growth and ensure that these materials find their way back into new, high-performance applications for the long term."
No further details of the deal have been disclosed.
About Ascend Performance Materials
Contact: Ally Jahn, 1 713-210-9809, ajahn@ascendmaterials.com
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