Printpack, a leader in flexible and specialty rigid packaging committed to developing and commercializing sustainable packaging solutions, announced 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 then be capable of producing sustainable packaging solutions from these recycled resins, the final step to complete 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 Nexus Circular added, “The journey to convert used plastics into sustainable packaging – economically and at scale – requires committed partners in 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 eco-system and demonstrates their 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, expanding the scope of used plastics that can be economically converted back into ISCC Plus certified, virgin materials. Nexus is at the forefront of the advanced recycling industry, having 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.
About Printpack
Founded in 1956 and headquartered in Atlanta, GA, Printpack is a privately-held manufacturer of flexible and specialty rigid packaging. Employing over 3,200 associates worldwide, the company operates 19 manufacturing facilities in North America. By combining our unique consumer insights with advanced technological capabilities, Printpack can heighten brand recognition and help capture market share. Visit Printpack.com to learn more.
About Nexus Circular
Nexus Circular is the commercial leader in advanced recycling technology that converts landfill-bound plastics into circular feedstocks for production of sustainable virgin plastics used in packaging and other applications. Nexus Circular’s end-to-end solution is economically validated as demonstrated by consistent bulk sales of high quality, ISCC Plus circular feedstocks for virgin plastic production. Aligned with global partners who seek proven scalable solutions to meet ambitious plastic circularity goals, Nexus Circular is rapidly expanding its footprint worldwide, moving decisively to address the complex challenges of plastics accumulation in the environment.
Source
Nexus Circular, press release, 2022-01-11.
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