Chevron Phillips Chemical receives ISCC PLUS certification, secures supply agreement with Nexus as advanced recycling program matures | Business Wire

2022-08-19 19:31:54 By : Mr. Jeff Xu

Company well-positioned for long-term growth in production of Marlex® Anew™ Circular Polyethylene

THE WOODLANDS, Texas--(BUSINESS WIRE )--Chevron Phillips Chemical (CPChem) today announced two significant developments in its advanced recycling program which converts waste plastics into circular polyethylene (PE). Since introducing Marlex® Anew™ Circular Polyethylene in October, the company has received certification through the International Sustainability and Carbon Certification PLUS (ISCC PLUS) process and signed a long-term supply agreement with Nexus Fuels LLC (Nexus) as its first supplier of pyrolysis oil.

The internationally recognized ISCC PLUS certification verifies Chevron Phillips Chemical meets the high standards required to hold the certificate, providing customers of Marlex® Anew™ Circular Polyethylene with added confidence in the certified circular product. This certification reflects the company’s committed and growing efforts to create sustainable streams for waste plastics. Chevron Phillips Chemical’s Cedar Bayou facility in Baytown, Texas, produces Marlex® Anew™ Circular Polyethylene. It is the company’s first location to receive the ISCC PLUS certification, a status Chevron Phillips Chemical expects to seek as additional sites are added to the expanding advanced recycling program.

Nexus, a proven leader in converting difficult-to-recycle waste plastics into pyrolysis oil, has already begun supplying its high-quality, certified feedstock needed to produce Marlex® Anew™ Circular Polyethylene. Nexus has successfully obtained ISCC PLUS certification, which combined with Chevron Phillips Chemical’s ISCC PLUS certification, establishes Marlex® Anew™ Circular Polyethylene as an end-to-end certified circular product. Jeff Gold, Nexus founder and chief executive officer, said, “Consumers and brands want action, not promises, that address plastic waste.” Eric Hartz, president and co-founder, added, “Nexus and CPChem are delivering a real-world solution that is actively diverting plastic waste from landfills and the environment while generating high quality products.”

The Nexus supply agreement and ISCC PLUS certification of both companies make Chevron Phillips Chemical well-positioned to further scale production of its circular polymer and deliver sustainable products for years to come. Chevron Phillips Chemical is targeting an annual production volume of 1 billion lbs. of Marlex® Anew™ Circular Polyethylene by 2030.

“The early success and certification of our advanced recycling program reinforces CPChem’s drive to cultivate a circular economy for plastics,” said Jay Bickett, vice president of polymers and sustainability at Chevron Phillips Chemical. “CPChem continues to develop approaches that generate value from plastic waste and I am confident we will maintain a leadership role in delivering sustainable solutions long after we achieve our 2030 goal.”

Nexus, based in Atlanta is an end-to-end plastics recycling business ― an operational, commercially scaled, continuous system. The Nexus plant in Atlanta is the first multi-polymer pyrolysis operation in the U.S. to receive ISCC PLUS certification. Nexus has developed a highly efficient system built at low capital cost and without a need for catalysts or post-processing, yielding clean, ISCC PLUS on-specification outputs.

The Nexus process is efficient, environmentally friendly, and encompasses rigorous operational and business standards. The company’s operating philosophy is founded on the principle that for any recycling solution to succeed, it must be profitable, technically proven at scale, and operate as a robust stand-along business, while creating a meaningful and positive environmental impact. For more information about Nexus Fuels, please visit www.nexusfuels.com.

Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. With approximately 5,000 employees, Chevron Phillips Chemical and its affiliates own nearly $17 billion in assets, including 31 manufacturing and research facilities in six countries. Chevron Phillips Chemical is equally owned indirectly by Chevron Corporation and Phillips 66, and is headquartered in The Woodlands, Texas. For more information about Chevron Phillips Chemical, visit www.cpchem.com. Also, follow us on Twitter: @chevronphillips.

“Chevron Phillips Chemical” or “CPChem” may refer to one or more Chevron Phillips Chemicals subsidiaries or affiliates or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.

News Inquiries: Ryan Draper Phone: 832-813-4381; email: draper@cpchem.com

News Inquiries: Ryan Draper Phone: 832-813-4381; email: draper@cpchem.com