Nexus Reports 177% Year over Year Production Growth at Commercial Scale
To date, Nexus has diverted close to 3.8 million pounds of broad-based, landfill-bound plastics.
Nexus announced 177% YoY production growth with 47% of its total production occurring in recent months. The company is an operational, commercially scaled converter of waste plastics to feedstocks, which in turn are converted back to virgin plastics.
The first in the world to receive the International Sustainability and Carbon-Plus Certification (ISCC Plus) producing at this scale, Nexus uses a proprietary technology to convert a broad range of plastic waste into liquids converted into virgin plastics. The company is successfully producing and selling commercial tanker loads weekly of consistent, high quality, ISCC Plus certified product to its customers like Chevron Phillips Chemical and Shell Chemical. Everything Nexus makes is converted into new plastics, the company states. In addition, each tanker load is tested before sending and Nexus has had 100% acceptance and use of all its products produced.
The company is meeting global requests for plants with partnerships previously announced including Cushman & Wakefield for site selection and Wood for rapid construction and roll out. Nexus continues its long-standing relationship with Cox Enterprises and global customers such as Shell Chemical and Chevron Phillips Chemical, among others.
“We are extremely pleased with our progress over the past few months,” said Jeff Gold, CEO and founder of Nexus. “Managing the complex mix of waste plastic that we process in our plant poses a variety of daunting challenges, but we have overcome these hurdles and are moving forward at an accelerating pace while expanding the range of materials that we can successfully process as we deploy our plastic waste solution on a large scale.”
Nexus recently secured an additional investment from Cox Enterprises to accelerate its market expansion and position the company for long-term sustainability,. To date, Nexus has diverted close to 3.8 million lbs of broad-based, landfill-bound plastics and is converting them back into liquids to create new, reusable plastics.
Nexus has numerous feasibility studies already underway in U.S., Europe, Asia, South America and new ones launching in the coming months in Asia and the Middle East.
The Nexus technology is based on thermal depolymerization of incoming waste plastics within a pyrolysis reactor.
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