Country for PR: United States
Contributor: PR Newswire New York
Wednesday, November 09 2022 - 03:46
Ascend buys majority stake in recycler Circular Polymers
HOUSTON, Nov. 9, 2022 /PRNewswire-AsiaNet/ --

-- Deal underscores Ascend's commitment to low-carbon polyamides and engineered 

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(TM) sustainable polyamides( 
), launched at K 2022.

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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.
About Ascend Performance Materials ( 

Contact: Ally Jahn, +1 713-210-9809,

SOURCE Ascend Performance Materials