Nexus Fuels LLC, a circular waste plastics operation, has secured a major investment from Cox Enterprises to accelerate its market expansion. Nexus has developed a commercial-scale process for converting waste plastics formerly bound for landfills and oceans into virgin plastic precursors and resins that partners like Shell and Chevron Phillips can use to develop new products, according to a release from Cox Enterprises.
“We appreciate Cox’s dedication to improving the environment and their support of Nexus to convert waste plastics into new, environmentally friendly products,” said Nexus CEO Jeff Gold. “More importantly, Cox understands that recycling solutions like Nexus must be economically viable to be sustainable over the long term.”
Nexus has partnered from the outset with Cox Enterprises, a company that says it is committed to healing and protecting our planet. “With Cox’s full support, Nexus has created an end-to-end business, poised to grow globally,” commented Nexus President and co-founder Eric Hartz. “This circular solution means all plastics currently above ground are all that’s ever needed.”
Since 2007, Cox Enterprises has invested nearly $1 billion in innovative cleantech companies and solutions. The investments range from sustainable agriculture and energy services to waste conversion technologies, and include companies like Rivian, BrightFarms, Anuvia Plant Nutrients, and Growers Edge.
“Cox Enterprises is committed to protecting our planet and tackling sustainability challenges while growing our business,” said Steve Bradley, Vice President of Cox Cleantech for Cox Enterprises. “By investing in cutting-edge companies like Nexus that bring viable solutions to real-world problems, we are building scalable businesses that create a positive impact on the planet.”
Nexus has already sold more than 250,000 gallons of fuel and raw material, diverting more than 1,000 tons of waste plastics from landfills. Nexus accepts clean plastics #2 (HDPE), #4 (LDPE), #5 (PP), and #6 (PS).