8 Nov 2022
Ascend buys majority stake in recycler Circular Polymers
Deal underscores Ascend’s commitment to low-carbon polyamides and engineered materials.
HOUSTON – November 8, 2022 – Ascend Performance Materials has purchased a majority stake in California-based Circular Polymers, a recycler of post-consumer, high-performance polymers including polyamide 6 and 66, polypropylene and polyester (PET). The deal provides Ascend with a consistent supply of high-quality PCR materials for its ReDefyne™ sustainable polyamides, launched at K 2022.
Circular Polymers, which as part of the deal is renamed Circular Polymers by Ascend, reclaims and processes post-consumer carpet via a unique technology and has redirected approximately 85 million pounds of waste from landfills into new goods since 2018.
“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, a fully integrated producer of durable materials, has a sustainability strategy based on three pillars: empowering people, innovating solutions and operating without compromise.
Ascend has committed to reducing its greenhouse gas emissions by 80% by 2030 and recently announced two new efforts to reduce the carbon footprint of its products.
David Bender, founder and CEO of Circular Polymers, will hold the remaining equity and stay on as CEO of the company.
“Since 2018, we have focused on improving the sourcing and processing of post-consumer high-performance polymers,” said Mr. Bender. “Having Ascend on board will accelerate our growth and ensure these materials go back into new long-term, high-performance applications.”
Further details of the deal were not disclosed.
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About Ascend Performance Materials
Ascend Performance Materials makes high-performance materials for everyday essentials and new technologies. Our focus is on improving quality of life and inspiring a better tomorrow through innovation. Based in Houston, Texas, and with regional offices in Shanghai, Brussels and Detroit, we are a fully integrated material solutions provider with nine global manufacturing facilities in North America, Europe and Asia. Our 2,600-person global workforce makes the engineered materials, fabrics, fibers and chemicals used to make safer vehicles, cleaner energy, better medical devices, smarter appliances and longer-lasting apparel and consumer goods. We are committed to safety, sustainability, inclusion and diversity, and to the success of our customers and our communities.
Learn more about Ascend at www.ascendmaterials.com.
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