Nexus Circular has announced that Braskem, the largest petrochemical company in the US and a global leader in biopolymer production, has invested an undisclosed amount in the company.

The investment is expected to support Nexus Circular in accelerating the commercialization of advanced recycling technology to promote the circular use of hard-to-recycle plastic worldwide. 

Nexus Circular uses its proprietary thermal depolymerization technology to convert plastic waste into circular feedstocks, which is then used to produce virgin-like plastics for various applications, including packaging. 

For Braskem, the investment is part of its strategy to help develop a circular economy for plastics and also caters to its commitment of increasing the recycled content product portfolio to 300,000 tonnes by 2025 and one million tonnes by 2030.