BRASKEM EXTENDS RELATIONSHIP WITH NEXUS CIRCULAR THROUGH MOU FOR COMMERCIAL OFF-TAKE OF CIRCULAR PLASTIC FEEDSTOCKS FROM NEW ADVANCED RECYCLING FACILITY

Braskem plans to expand its offering of certified circular polypropylene (PP) by utilizing Nexus Circular's proven, commercial-scale advanced recycling technology, which converts landfill-bound plastics into high-quality materials used in the production of virgin-quality circular plastics. HOUSTON , July 11, 2022 /PRNewswire/ -- Nexus Circular and Braskem S.A. ((B3: BRKM3, BRKM5, and BRKM6, NYSE:BAK , LATIBEX: XBRK)) ("Braskem"), the largest polyolefins producer in the Americas, as well as a market leader and pioneer producer of biopolymers on an industrial scale, today announced that they have signed a detailed Memorandum of Understanding (MOU) to secure the production output from a new advanced recycling facility planned near Chicago , IL.  The new facility will have an initial capacity to convert over 30,000 metric tons annually of used plastic into new materials, with the potential to rapidly expand the processing capacity to over 120,000 metric tons annually. Nexus Circular is a commercial leader in advanced recycling that uses proprietary technology and a leading process design to convert landfill-bound films and other hard-to-recycle plastics into high-quality materials used to produce virgin-quality sustainable plastics.  Since 2018, Nexus has been supplying consistent, on-spec commercial volumes of ISCC PLUS certified circular products.  In January 2022 , Braskem made a strategic investment in Nexus Circular. By the terms of the MOU, Braskem gains exclusive rights to the production output from this new advanced recycling facility, which supports Braskem's strategic objective to sell 300 thousand metric tons ... Full story available on Benzinga.com