Printpack Invests in Nexus Circular
Printpack’s investment, part of a larger round of private funding, supports the commercial scale up of Nexus Circular’s proprietary advanced recycling process.
Printpack, a leader in flexible and specialty rigid packaging committed to developing and commercializing sustainable packaging solutions, announces an investment in Nexus Circular (Nexus), a leader in advanced recycling technology.
Nexus diverts and economically converts landfill-bound plastics into hydrocarbon feedstocks, which are used by Nexus’ partners to produce virgin resins. Once the supply chain is fully implemented, Printpack will be capable of producing sustainable packaging solutions from these recycled resins, the final step in completing the circularity of landfill-bound plastics back into recycled packaging solutions.
Printpack is working collaboratively with numerous major CPGs to develop and commercialize more sustainable packaging materials. Through the Nexus investment, Printpack affirms and recognizes the integral role that advanced recycling plays. With its commercial-scale manufacturing, Nexus is poised to deliver a viable end-to-end solution for plastic films by enabling an increase in recycled content in plastic packaging while maintaining the same performance characteristics as packaging made from virgin materials.
Jimmy Love, Chairman and CEO of Printpack said, “This is an important opportunity for Printpack to deliver on our commitment to sustainability in packaging and accelerate the commercialization of a truly circular process for plastics waste. Nexus Circular has developed and proven a technology capable of being scaled up, and we are committed to helping them do so. The investment in Nexus demonstrates Printpack’s ongoing commitment to “Preserving and Enhancing People’s Lives” by accelerating the commercialization of a viable economic solution for advanced recycling.”
Eric Hartz, President and Co-Founder of Nexus Circular added, “The journey to convert used plastics into sustainable packaging – economically and at scale – requires committed partners at each step of the process from advanced recycling technology to the resin producer to the packaging converter. As an investor, Printpack provides a valuable service in this ecosystem and demonstrates its commitment to addressing the complex challenges of reducing plastics in the environment.”
Nexus’ proprietary process can handle a broad array of hard-to-recycle films, thus expanding the scope of used plastics that can be economically converted back into ISCC Plus certified, virgin materials. Nexus has already diverted used plastics from landfills equal to an industry-leading 35 million grocery bags or over 4.5 million lbs. (~2 million kgs.) of used plastics, placing it at the forefront of the advanced recycling industry.