Braskem will produce certified circular polypropylene (PP) utilizing Nexus Circular’s commercial-scale advanced recycling technology, which converts landfill-bound plastics into high-quality circular feedstocks used in the production of sustainable virgin-quality plastics.
PHILADELPHIA, Pa. January 23, 2023 – Nexus Circular and Braskem S.A. (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) (“Braskem”), the largest polyolefins producer in the Americas, today announced that they have signed a 10-year definitive commercial agreement for the supply of circular feedstocks from a new advanced recycling facility. Braskem completed a strategic investment in Nexus Circular in January 2022.
The contracted volumes of advanced recycled circular products from Nexus will support Braskem’s strategic objective to sell 300 thousand metric tons of products with recycled content by 2025 and 1 million metric tons by 2030. Braskem America’s CEO Mark Nikolich said, “We look forward to a long and growing partnership with Nexus to secure high-quality feedstock for the production of Braskem’s certified circular PP resins. This supports our corporate initiative to develop a carbon neutral circular economy for plastics while supporting our clients’ goals for plastics with recycled content.”
This project will add to Braskem America’s existing sustainable PP and PE portfolio, which currently consists of nine (9) Post-Consumer Recycled (PCR) products including two PCR PP grades that can be used in a wide range of U.S. Food and Drug Administration (FDA) food contact applications where PP is used today. Braskem’s full range of PCR solutions can be used in a variety of PP and PE applications, including but not limited to consumer packaging, caps and closures, durable goods, automotive, and consumer housewares.
Nexus Circular is a commercial leader in advanced recycling with proven proprietary technology and a leading process design that converts landfill-bound films and other hard-to-recycle plastics into high-quality feedstocks, which are then used to produce virgin-quality sustainable plastics. Since 2018, Nexus has been consistently supplying commercial volumes of ISCC Plus-certified circular liquid products, having diverted over 8 million pounds of used plastics from landfill.
Jodie Morgan, Chief Executive Officer at Nexus, confirmed, “This long-term commercial contract builds upon the strong foundation of our growing relationship. We are excited to partner with Braskem to accelerate our impact and ability to address the complex challenges of plastics accumulation in the environment.”