Braven Environmental Executes Long-Term Pyrolysis-Derived Feedstock Supply Agreement with Chevron Phillips Chemical

Fostering a circular economy and increasing sustainability of difficult-to-recycle plastics

 

Zebulon, NC — June 17, 2021 (GLOBE NEWSWIRE) — Braven Environmental (Braven), a pioneering technology provider in the advanced plastics recycling sector, announced today it has entered into a long-term agreement with Chevron Phillips Chemical (CPChem) to supply its pyrolysis-derived feedstock, Braven PyChemTM.

Braven’s proprietary pyrolysis process, which has undergone more than ten years of testing and development, is able to efficiently break down mixed, difficult-to-recycle waste plastics into a substance called Braven PyChem. This output can then be used to create a circular economy for the manufacturing of new plastics. 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. Through its support of a circular plastics economy, Braven Environmental is leading the development of an economical approach to solving the global waste plastic crisis.

“We are excited to work with CPChem and play a role in their industry-leading sustainability efforts,” said Nicholas Canosa, President and CEO of Braven Environmental. “Braven’s pyrolysis process and PyChem product offer an alternative to traditional waste plastics management and establishes a true circular economy for hard to recycle plastics, by creating the building blocks for the creation of new plastics. Our PyChem feedstocks help environmentally conscious companies like CPChem achieve its circularity goals, and we are excited to work hand in hand with CPChem as we continue to build more facilities.”

CPChem has already started to receive Braven PyChem from Braven’s first commercial scale site in North Carolina, which started operations last year. Braven is expected to break ground at its second location in Virginia later this year, which will serve as an additional Braven PyChem supply source for CPChem. 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, addressing an ever-growing volume of waste plastics affecting our planet’s ecosystems.

According to a 2020 study by Pew Research, Breaking the Plastic Wave, the circular economy has the potential to reduce the annual volume of plastics entering our oceans by 80%, reduce greenhouse gas emissions by 25%, generate savings of $200 billion per year, and create 700,000 additional jobs by 2040.

About Braven Environmental

Braven Environmental, LLC, (“Braven” or the “Company”), is a leading technology provider in the advanced recycling sector. Deploying patented pyrolysis-based technology, Braven converts mixed waste plastics into Braven PyChemTM, a feedstock/input for the production of new plastics, and as a replacement to traditional fuel products.

Braven believes it has one of the leading solutions addressing the global and growing issue of post-consumer and post-industrial waste plastics, while reducing the carbon footprint associated with traditional plastic waste management and plastic production. With its first facility already in operation in North Carolina, Braven is developing a network of facilities across the U.S. and abroad to offer a true solution to waste plastics while cementing its place in the circular economy related to plastics production. Headquartered in Yonkers, New York, Braven was founded in 2010.

About Chevron Phillips Chemical

Chevron Phillips Chemical is one of the world’s top producers of olefins and polyolefins and a leading supplier of aromatics, alpha olefins, styrenics, specialty chemicals, plastic piping and polymer resins. With approximately 5,000 employees, Chevron Phillips Chemical and its affiliates own nearly $17 billion in assets, including 31 manufacturing and research facilities in six countries. Chevron Phillips Chemical is equally owned indirectly by Chevron U.S.A. Inc. and Phillips 66 Company, and is headquartered in The Woodlands, Texas. For more information about Chevron Phillips Chemical, visit www.cpchem.com. Also, follow us on Twitter: @chevronphillips.

“Chevron Phillips Chemical” or “CPChem” may refer to one or more Chevron Phillips Chemicals subsidiaries or affiliates or to all of them taken as a whole. All of these terms are used for convenience only and are not intended as a precise description of any of the separate companies, each of which manages its own affairs.

For more information about Braven Environmental, visit www.bravenenvironmental.com or follow us on social media:
Instagram: @bravenenvironmental
Twitter: @BravenEnvirnmnt
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Press Contact:
Jordan Schmidt
Gateway Group
(949) 574-3860

Let’s give waste plastics a valuable second life.