Ascend Performance Materials, a Texas-based manufacturer of chemicals, fibers, and plastics products acquired a majority stake in Circular Polymers, a California-based startup offering recycling technology to transform post-consumer discarded carpet into new polymer raw materials for use by multiple industries.
Circular Polymers will be renamed Circular Polymers by Ascend as part of the deal and will provide Ascend with a consistent supply of high-quality PCR materials for its ReDefyne™ sustainable polyamides. This acquisition is a part of its sustainability strategy of Ascend to reduce its greenhouse gas emissions by 80% by 2030.
David Bender, founder and CEO of Circular Polymers, will remain as CEO of the company while holding the remaining equity and stated that this acquisition will accelerate their growth and ensure the effective usage of recycled materials in new long-term, high-performance applications.
Founded in 2022, Circular Polymers produces Nylon 66, Nylon 6, PET(Polyester), and Polypropylene derived from post-consumer carpets. They use Broadview Group’s rotary impact separator technology to separate shredded post-consumer carpet into the face fiber, backing, and calcium carbonate. The company has exclusive North American rights to this technology.
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