Ascend Performance Materials has purchased a majority stake in Circular Polymers, a CARE grantee and important California recycler of post-consumer, high-performance polymers. The deal provides Ascend with a consistent supply of high-quality PCR materials for its ReDefyne™ sustainable polyamides.
Lincoln, CA-based Circular Polymers, which as part of the deal is renamed Circular Polymers by Ascend, reclaims and processes post-consumer carpet via a unique, patented technology, and has redirected approximately 85 million pounds of waste from landfills into new goods since 2018.
David Bender, founder and CEO of Circular Polymers, holds the remaining equity and will stay on as CEO of the company. “Since 2018, we have focused on improving the sourcing and processing of post-consumer, high-performance polymers,” said Bender. “Having Ascend on board will accelerate our growth and ensure these materials go back into new long-term, high-performance applications.”
“We are delighted that Circular Polymers’ progress has been recognized with this deal,” said CARE Executive Director Bob Peoples. “CARE has worked with CP on every step of their success, and we look forward to this next exciting chapter of growth. This caps yet another year of major progress."