Freepoint Eco-Systems joins Cyclyx consortium

Portsmouth, New Hampshire-based Cyclyx International, a consortium-based postuse plastic innovation company, has announced the addition of Stamford, Connecticut-based supply chain management company Freepoint Eco-Systems.

As a subsidiary of global commodities merchant Freepoint Commodities LLC, Cyclyx says Freepoint Eco-Systems has an interest in building the necessary infrastructure to create and sustain a waste-free, circular economy. The consortium adds that with a sophisticated approach stemming from its core business, Freepoint Eco-Systems has continued to gain critical knowledge and experience in the space.

RELATED: Alterra, Freepoint sign licensing agreement | Recycled PET producer Evergreen joins Cyclyx consortium

As a member, Cyclyx says Freepoint can incorporate its insight to facilitate more advancements in developing a circular economy for plastic that positively impacts the environment.

Freepoint is currently developing commercial-grade advanced recycling facilities, including one in Hebron, Ohio, which the company says it expects to begin operations in 2024. The company’s consortium membership will enable it to maximize its plastic scrap collection efforts and leverage Cyclyx’ community-level engagement opportunities through its 10to90 program, which is designed to increase the recyclability of plastic from 10 percent to 90 percent.

Both Freepoint and Cyclyx say they are looking toward creating a conduit into communities and municipalities that will complement their commercial-scale strategy.

“We are excited to join Cyclyx,” Freepoint Managing Director Jeff McMahon says. “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.”

Cyclyx Vice President of Membership Engagement Ron Sherga says there is a synergy that exists between Cyclyx and Freepoint. “We both recognize the growing plastic problem, but more importantly, the potential to turn today’s plastic waste into recyclable products for the future,” he says.

“With our shared vision and state-of-the-art technology, we can create meaningful change in the global recovery of postuse plastics,” Sherga adds. “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.”