November 8, 2022 | | Mary Bailey
Ascend Performance Materials (Houston) has purchased a majority stake in California-based Circular Polymers. Circular Polymers is a recycler of post-consumer high-performance polymers such as polyamide 6 and 66, polypropylene and polyester (PET). This agreement will enable Ascend to consistently supply high quality PCR material for ReDefyne sustainable polyamides to be launched at K 2022.
As part of the deal, Circular Polymers, renamed Circular Polymers by Ascend, uses proprietary technology to reclaim and treat post-consumer carpet, removing approximately 85 million pounds of waste from landfills since 2018. I have reused it in my products.
Ascend President and CEO Phil McDivitt said: “Since launching ReDefyne, we have seen greater demand for circular products across all segments of our business, including automotive, consumer, electronics and high-performance fabrics and textiles.”
Ascend has committed to reducing its greenhouse gas emissions by 80% by 2030 and recently announced two new initiatives to reduce the carbon footprint of its products.
Circular Polymers founder and CEO David Bender will retain the remaining stake and remain CEO of the company.
“Since 2018, we have focused on improving the sourcing and processing of post-consumer high-performance polymers,” said Bender. “Equipping Ascend will accelerate our growth and ensure the return of these materials to new long-term, high-performance applications.”