Braskem joins Cyclyx as Founding Member
PORTSMOUTH, New Hampshire and PHILADELPHIA, Pennsylvania, April 20, 2021 - Cyclyx International, a consortium-based feedstock management company with a mission to increase the recyclability of plastic from 10% to 90%, and Braskem, (B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, announce today that Braskem has joined Cyclyx as a member and has appointed Geoffrey Inch, Braskem's Sustainability and Circular Economy Director, to the Cyclyx Executive Advisory Board.
As a member of the Cyclyx consortium, Braskem will have access to the Cyclyx platform which includes an integrated set of innovations including chemical characterization of plastics and predictive modelling of feedstock sources to product pathways, custom feedstock recipes, and customized supply chains. These innovations aim to deliver waste plastic feedstock appropriate for all existing and new mechanical and advanced recycling pathways.
"We are excited to welcome Braskem as a founding member of Cyclyx and to add Geoffrey Inch to our advisory board," said Joe Vaillancourt, chief executive officer at Cyclyx. "Braskem's extensive experience in the biopolymer industry along with their commitment to eliminating plastic waste within a carbon neutral circular economy makes them a valuable member of our consortium, and reinforces the commitment of our membership to drive post-use plastic recycling rates from 10% to 90%."
"As the North American leader in polypropylene, Braskem is thrilled to be a founding member of Cyclyx," says Geoffrey Inch, Sustainability and Circular Economy Director at Braskem. "Braskem has a long history in the use of sustainable feedstock and is committed to working collaboratively to increase the circularity of plastics. We believe Cyclyx addresses some of the key challenges that will allow advanced recycling to scale, which is an important step in the development of certified circular polypropylene for our clients."
Braskem is strongly committed to a world where nothing is wasted and everything is transformed. Recently, Braskem announced its new commitment to a Carbon Neutral Circular Economy, with clearly stated targets for growing the company's I'm greenrecycled products portfolio to sales of 300,000 tons by 2025 and 1 million tons by 2030. In 2020, Braskem became a founding member and funding partner of the Polypropylene Recycling Coalition, an initiative of The Recycling Partnership, to increase U.S. curbside recycling access for polypropylene and ensure PP is widely recovered and reused. Braskem is also a founding member of the Alliance to End Plastic Waste.
To learn more about Braskem's commitment to a carbon neutral circular economy visit: https://www.braskem.com/usa/news-detail/braskem-affirms-commitment-to-circular-economy-and-to-achieve-carbon-neutrality-by-2050 .
About Cyclyx International, LLC.
Cyclyx International, LLC. ("Cyclyx") is a post-use plastic feedstock management company working with industry participants to develop innovative recycling solutions for all types of post-use plastics. The company's mission is to increase the recyclability of plastics from 10% to 90% by using Cyclyx's expertise in understanding the chemical composition of waste plastic in collaboration with industry partners to create a new, innovative supply chain. Cyclyx was founded by Agilyx Corporation ("Agilyx"), a leader in advanced chemical recycling, together with ExxonMobil Chemical Company, one of the largest chemical companies in the world. Cyclyx has been formed to be a consortium-based entity and since its founding there have been a growing number of companies joining its membership. For more information, visit us at www.cyclyx.com .
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