Ascend Performance Materials announced today that it has acquired a majority stake in Circular Polymers, a recycler of high performance post-consumer polymers including polyamides 6 and 66, polypropylene and polyester (PET) based in Lincoln, California. Ascend said the deal provides it with a steady supply of high-quality PCR materials for its ReDefyne sustainable polyamides, launched at K 2022 in Düsseldorf, Germany last month.
Circular Polymers recovers and processes post-consumer carpet using rotary impact separator technology developed by the Broadview Group. It holds the exclusive North American rights to the technology and claims to have diverted approximately 85 million pounds of waste from landfills into new products since 2018. As part of the deal, the company was renamed Circular Polymers by Ascend.
“We strive to help our customers achieve their sustainability goals, and Circular Polymers by Ascend provides materials that deliver strong performance with a significantly reduced environmental footprint, compared to other technologies like pyrolysis,” said said Phil McDivitt, President and CEO of Ascend. “Since we launched ReDefyne, demand for our circular products has been strong across all segments of our business, including automotive, consumer, electronics, and performance fibers and textiles.”
Ascend is 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 remain CEO of the company, Ascend announced.