Six Pines Investments LLC (“Six Pines”), a wholly-owned, sustainable investment subsidiary of Chevron Phillips Chemical Company LLC (“CPChem”) announced today its equity investment in two leading circular plastics recyclers, Nexus Circular, LLC (“Nexus”) and Mura Technology Ltd. (“Mura”).
In October 2020, CPChem announced success in its first commercial scale production of polyethylene using advanced recycling technology. The company markets its new circular polyethylene under the name Marlex® Anew™ Circular Polyethylene and is working toward an ambitious annual production goal of 1 billion pounds of circular polyethylene by 2030.
Mura and Nexus are leading plastics recyclers that convert waste plastics into high quality feedstock used in advanced recycling technologies to produce circular plastics. These strategic investments made from its Six Pines subsidiary reflect CPChem’s commitment to foster innovation and accelerate the transition to a circular economy for plastics.
Benny Mermans, vice president sustainability at CPChem said, “We are excited about the capabilities and opportunities at Mura and Nexus. We share a common goal to keep plastic waste out of the environment. Waste plastics should not end up in the environment, as they can be sustainably recycled to create new plastics again and again. Investing in Nexus and Mura will accelerate our efforts to produce Marlex® Anew™ Circular Polyethylene and the expansion of our circular product portfolio.”
Plastics are life-enriching products that are essential for our future, however the plastic waste challenge must be addressed. CPChem believes that solving the global problem of plastic waste will require innovation, investment and cooperation throughout the entire plastics value chain. Six Pines’ investments advance CPChem’s ambition to reduce waste and reuse valuable resources, accelerating change for a sustainable future.