Page 56 - Plastics News January 2023

BUSINESS NEWS

New injection moulding partnership to help supply Nexus Circular secures
Indian market $150M in push for plastic
recycling solution

lastics recycler Nexus Circular,
PAtlanta, has agreed to terms
on an equity raise of $150 million.
Atlanta-based investor Cox Enter-
prises led the round of funding and
will become the majority owner.
Nexus Circular says the funding
will support its efforts to deliver
on recycled-plastic commitments
by accelerating the expansion of
OLIZE India Technologies , a group main knowledge, long-standing cus- its advanced recycling process,
Scompany of Japan-headquartered tomer relationships, knowledgeable which includes the processing of
SOLIZE Corporation, announced sales and support teams, and exten- hard-to-recycle plastic films. The
a partnership with Toray Engineer- sive market coverage across India will company claims it has consistently
ing D Solutions to supply 3D injec- greatly benefit the customers. We are produced and commercially sold
tion moulding machines for the Indian excited to partner with SOLIZE India high-quality, ISCC Plus certified
market. to expand our customer universe." circular products made from land-
fill-bound plastics, diverting over 7
The company claims that the three- Mahadevan V. S., Chief Executive Of- million pounds to date.
dimensional injection Moulding allows ficer and Director, SOLIZE India, add- The company says the financing
manufacturers to simulate the behav- ed: "Polymers and plastics are playing will enable it to build additional
iour of material in moulds. It supports an increasingly critical role in the new capacity to serve its expanding
prediction of failures and analysis and generation of lighter weight, lower customer base and meet an out-
prior verification of processes relating environmental impact products being sized demand for recycled plastic
to the development and production developed in the auto, aero, consum- products. It plans to build facilities
of plastic products, including automo- er-durables and various other sectors. that have the capacity to process
tive parts, home appliances, IT-related With this partnership, we can bet- more than 250 million pounds of
components and optical parts ter support our customers and offer used plastic annually.
them end-to-end solutions across the
Speaking about the partnership, Ajai material simulation space. The origin “Cox has been incredibly support-
Singh Sirohi, Chief Development Of- of 3DTIMON™ software in an engi- ive and continues to be enthusias-
ficer – South Asia, Toray Industries neering organization truly sets it apart tic about Nexus,” Nexus Circular
India Private Limited, said: "SOLIZE in terms of domain understanding and CEO Jodie Morgan says. “We are
India has a deep legacy of evangeliz- effectiveness." leading the advanced recycling in-
ing the use of simulation among indus- dustry, making a positive impact
try players in India for over 30 years addressing the challenges of used
now. We believe their extensive do- plastics in our environment.

56 PLASTICS NEWS January 2023