Ascend Takes Majority Stake in Circular Polymers
Ascend Performance Materials announced today that it has purchased a majority stake in Circular Polymers, a recycler of post-consumer, high-performance polymers including polyamide 6 and 66, polypropylene, and polyester (PET) based in Lincoln, CA. Ascend said the deal provides it with a consistent supply of high-quality PCR materials for its ReDefyne sustainable polyamides, launched at K 2022 in Düsseldorf, Germany, last month.
Circular Polymers reclaims and processes post-consumer carpet using rotary impact separator technology developed by the Broadview Group. It has the exclusive North American rights to the technology and says that it has redirected approximately 85 million pounds of waste from landfills into new goods since 2018. As part of the deal, the company has been renamed Circular Polymers by Ascend.
“We are focused on helping our customers reach their sustainability goals, and Circular Polymers by Ascend provides materials that offer strong performance with a considerably smaller environmental footprint, compared to other technologies like pyrolysis,” said Phil McDivitt, President and CEO of Ascend. “Since we launched ReDefyne, the demand for our circular products has been significant across all segments of our business, including automotive, consumer, electronics, and high-performance fibers and textiles.”
Ascend has committed to reducing its greenhouse gas emissions by 80% by 2030.
David Bender, founder and CEO of Circular Polymers, will hold the remaining equity and stay on as CEO of the company, Ascend announced.