Waste-management and energy-production company Nexus announced that it has entered into a strategic relationship with Wood plc, a consulting and engineering firm, to globally expand its advanced molecular plastics recycling business to meet demand from plastics producers.
“Our strategic relationship with Wood provides the foundation and resources for Nexus to accelerate global growth and help our customers in both their and our efforts to eradicate the negative environmental impact of waste plastics,” commented Eric Hartz, President and co-founder of Nexus.
Nexus is a commercially scaled converter of waste plastics into feedstock that, in turn, is converted back into virgin plastics. It is rapidly rolling out plants globally with a limited set of partners that, the company said, are ready to move quickly and with purpose to address plastic waste. The process is described as an environmentally friendly end-to-end business that encompasses engineering, software, and front-end sorting. It complies with all regulatory requirements and has International Sustainability and Carbon-Plus (ISCC Plus) certification. Strategic pricing and positioning is guided by financially driven metrics, added Nexus.
Nexus claims it is the first in the world, at scale, to receive ISCC Plus certification for converting a broad range of plastic waste into products, which are then converted into virgin recycled-content plastics, creating a fully circular product. Nexus has a proven commercial-scale production plant in Atlanta, GA, that applies this proprietary technology and the company is currently providing commercial scale off-take to some of the world’s largest plastics companies through long-term supply agreements.
Operational and economically proven, Nexus has produced and shipped consistent, on-spec tanker loads of products to large global partners who blend it in their current streams and convert it to virgin plastics. Nexus is now rapidly rolling out plants globally, with the appropriate partners.
Customers have seen the value of Nexus’ products and its 2025-2030 objectives, and want it to accelerate production, said the company. Therefore, it is partnering with Wood and other leading global engineering, procurement, fabrication, and construction firms to meet this demand. Wood first will assist Nexus with expansion of its plant in Atlanta to better position the company for future phases of its global development, said the news release.
Jeff Gold, founder and CEO of Nexus, said: “Our accelerated plan and strategic relationships with firms like Wood will allow Nexus to advance current production rates to 5,000 tons of recycled feedstock per day, supporting the reuse of over 5 million tons of plastic waste annually with an estimated annual savings of 30 million tons of CO2 emissions when compared with incineration.”
Thomas Grell, President of Renewable Energy & Power at Wood, commented: “We are looking forward to partnering with Nexus to unlock more sustainable practices and further develop this innovative solution for the industry and our clients. At Wood, we are working to build a better future by creating resilient environments and adopting new energy applications.”
The expansion project will be delivered by integrated Wood and Nexus teams across the globe.