PORTSMOUTH, New Hampshire
,
August 12, 2022
(press release)
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Cyclyx International, a consortium-based post-use plastic innovation company with a mission to increase the recyclability of plastic from 10% to 90%, has announced that Styropek, the largest expandable styrene (EPS) manufacturer in America and a subsidiary of Alpek, has joined the consortium. Alpek has committed to grow its long-term usage and sustainable applications for EPS, work on biodegradable alternatives, and increase recycling content in select products to at least 30% by 2030. Having more feedstock available will significantly support Styropek’s EPS projected recycling capacity to achieve its circularity target. Through its expertise in understanding the chemical composition of waste plastic, Cyclyx can deliver ISCC PLUS certified custom feedstock batches with the necessary chemical and physical properties to ensure its recyclability. “We are pleased to have joined Cyclyx as it will allow us to gain valuable recycled feedstock,” stated Andreas Plettner, CEO of Styropek. “We are confident that Alpek’s target aligns well with Cyclyx’s mission to drive up recycling rates of plastics.” Styropek’s EPS production is primarily used for long-term industries such as construction due to its thermal insulation properties which allow it to reduce the carbon footprint for homes and buildings. However, for its short-term usage products, the Company continues to establish its role as a leading recycler, now through growth in Expandable Styrenics recycling. “We are excited to welcome Styropek to Cyclyx,” stated Joe Vaillancourt, CEO of Cyclyx. “Their circularity goals and commitment to developing sustainable applications for EPS align well with our mission to increase the recyclability of plastic from 10% to 90%.” About Cyclyx International, LLC. Cyclyx International, LLC. (“Cyclyx”) is a post-use plastic innovation 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 post-use 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. About Alpek Alpek is a leading petrochemical company operating two business segments: “Polyester” (PTA, PET, rPET, and polyester fibers), and “Plastics & Chemicals” (polypropylene, expandable styrenics, and other specialty & industrial chemicals). Alpek is a leading producer of PTA, PET resin and PET sheet worldwide, one of the largest rPET producers in the Americas, the third largest expandable polystyrene manufacturer worldwide, and the only producer of polypropylene in Mexico. In 2021, Alpek reported revenues of U.S. $7.7 billion and Comparable EBITDA of U.S. $962 million. The Company operates 35 plants across the United States, Mexico, Canada, Brazil, Argentina, Chile, Oman, Saudi Arabia, and the United Kingdom, and employs over 7,000 people. Alpek is a publicly traded company listed on the Mexican Stock Exchange.
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