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Ascend acquires a recycled materials company

 Last Update: 2022-11-25
 Source: Internet
 Author: User

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Ascend Performance Materials announced today that it is Circular, a California-based producer of recycled materials Polymers entered into an acquisition agreement whereby Ascend will acquire a majority stake and Circular Polymers will subsequently change its name to Circular Polymers by Ascend
。 David Founder and CEO of Circular Polymers Bender will hold the remaining equity and continue to serve as the company's CEO
.
More details of the deal have not been disclosed
.

It is reported that Circular Polymers mainly produces post-consumer recycled materials, including high-performance polymers such as polyamide 6 and polyamide 66, polypropylene, polyethylene terephthalate, etc.
, using a unique technology to recycle waste carpets and process them into high-performance materials
.
Since its inception in 2018, the company has reconverted about 40,000 tons of waste that would otherwise have been sent to landfill into new products
.
Ascend said the transaction will provide high-quality raw materials
for Ascend's ReDefyne recycled polyamide portfolio.

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