PORTSMOUTH, New Hampshire
,
July 17, 2023
(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%, announces Freepoint Eco-Systems, a company dedicated to developing renewable pathways for plastic waste, has joined the Cyclyx consortium. As a subsidiary of Freepoint Commodities LLC, a global commodities merchant, Freepoint Eco-Systems has an innate interest in building the necessary infrastructure to create and sustain a waste-free, circular economy. With a sophisticated approach stemming from their core business, Freepoint Eco-Systems continues to amass critical knowledge and experience in the space. As a Cyclyx consortium member, they can incorporate this insight to facilitate more advancements in developing a circular economy for plastic that positively impacts the environment. Freepoint Eco-Systems is currently developing commercial-grade advanced recycling facilities— including one in Ohio which is expected to begin operations in 2024. Their consortium membership will enable them to maximize their plastic waste collection efforts and leverage Cyclyx’s community-level engagement opportunities through 10to90. With an eye to the future, both Freepoint Eco-Systems and Cyclyx look towards creating a conduit into communities and municipalities that will complement their commercial-scale strategy. “We are excited to join Cyclyx,” said Jeff McMahon, Managing Director at Freepoint Eco-Systems. “Cyclyx has put together a consortium of plastic recycling industry experts who are determined to create a circular plastic economy. Freepoint Eco-Systems, for its part, can contribute both advanced recycling technology, as well as innovative techniques, to divert waste plastic from end-of-life applications to sustainable end markets.” "There is a synergy that exists between Cyclyx and Freepoint Eco-Systems. We both recognize the growing plastic problem, but more importantly the potential to turn today’s plastic waste into recyclable products for the future,” said Ron Sherga, Vice President, Membership Engagement of Cyclyx. “With our shared vision and state-of-the-art technology, we can create meaningful change in the global recovery of post-use plastics. This will allow Cyclyx to gain a deeper understanding of the complexity of various plastic waste streams, while helping Freepoint to access plastic waste material for their advanced recycling operations and opportunities for collaboration with like-minded organizations. The harmony of this collaboration presents a substantial opportunity to create new, tangible pathways and transform advanced recycling." About Freepoint Eco-Systems Freepoint Eco-Systems Holdings LLC is an affiliate of Freepoint Commodities LLC, a global commodities merchant providing supply chain management services and eco-friendly products and solutions to its customers. Among other things, Freepoint Eco-Systems is in the business of securing supplies of waste plastic that are not being recycled and converting that waste into reusable products for the production of new plastics via its advanced recycling facilities. Freepoint Eco-Systems is engaged in business operations in the U.S., Europe, and Asia. More information can be found at FreepointEcoSystems.com. 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 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 Cyclyx.com. Media Contact Melissa Emmott Paige Thornton
VP, Marketing and Programs
memmott@cyclyx.com
RF|Binder
212-994-7554
paige.thornton@rfbinder.com
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