Chevron Phillips Chemical Co. has reached a long-term supply agreement with recycling technology firm Braven Environmental LLC.
Under terms of the agreement, CP Chem — a resin maker based in The Woodlands, Texas — will purchase Braven PyChem pyrolysis-derived feedstock from Yonkers, N.Y.-based Braven. CP Chem already has started to receive the material from Braven's first commercial scale site in Zebulon, N.C.
In a June 17 news release, officials said that Braven's proprietary pyrolysis process — which has undergone more than 10 years of testing and development — can break down mixed, difficult-to-recycle waste plastics into Braven PyChem.
This output can then be used to create a circular economy for making new plastics, they added. Braven's "unique modular system" allows for fast and cost-efficient installation, making it a preferred partner for companies and governments in search of a permanent and sustainable solution to waste plastic recycling, according to company officials.
"Our PyChem feedstocks help environmentally conscious companies like CP Chem achieve its circularity goals," Braven President and CEO Nicholas Canosa said in the release. "We are excited to work hand in hand with CP Chem as we continue to build more facilities,"
Braven in June 2020 announced plans to invest nearly $32 million in a pyrolysis plant in Virginia. State officials said at the time that the firm planned to build the 52-employee facility in Cumberland County, about 50 miles west of Richmond. Braven officials said in the June 17 release that the firm is expected to break ground in Virginia later this year.
They added that additional sites "are expected to be announced in the near term, as Braven executes its plan to build a network of facilities throughout the U.S. and abroad."
CP Chem is a leading producer of polyethylene resin and other specialty plastics and chemicals. The firm employs 5,000 and is a joint venture between Chevron Corp. and Phillips 66.