Ascend Performance Materials, a fully integrated producer of durable materials has purchased a majority stake in California-based Circular Polymers, a recycler of post-consumer, high-performance polymers including polyamide 6 and 6,6, polypropylene, and polyester (PET).
With the agreement, Ascend will have a reliable source of top-notch PCR materials for its ReDefyneTM sustainable polyamides, launched at K 2022.
Since 2018, Circular Polymers, which is now known as Circular Polymers by Ascend as part of the agreement, reclaims and processes post-consumer carpet via an innovative technology and has redirected almost 85 million pounds of garbage from landfills into new products.
“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” adds further.
A three-pillared strategy for sustainability
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 recently unveiled two new initiatives to lessen the carbon footprint of its products and has pledged to cut its greenhouse gas emissions by 80 percent by 2030.
The company’s founder and CEO, David Bender, will retain ownership of the remaining equity and continue in his role.
“Since 2018, we have focused on improving the sourcing and processing of post-consumer high-performance polymers,” Bender said.
“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.
