Circularix has begun production at its first PET recycling plant
Circularix, a producer of food-grade post-consumer rPET, has begun production at its Pennsylvania plant – the first of five U.S. recycling facilities it plans to take operational. This inaugural plant, in Hatfield, PA, will contribute to a total production capacity across the five facilities of 275 million pounds of rPET pellets per year.
In June 2022, Circularix announced the formation of its joint venture with Macquarie Group, a leading provider of risk management, market access and capital solutions to the petrochemicals industry. Macquarie formed its Sustainable Waste Solutions team in 2020 to provide finance and growth capital solutions to clients in the waste sector, with a focus on helping facilitate the transition to a circular economy.
Circularix was formed in the middle of last year from a joint venture between HPC Industries LLC and the Commodities and Global Markets group of Macquarie Group. Leon Farahnik, chairman of HPC and the former chairman and CEO CarbonLite, serves as chairman and CEO of Circularix.
In addition to its investment as a partner in the joint venture, Macquarie is assisting Circularix with project debt, equipment finance, foreign exchange hedging and other risk management solutions to support its growth.