Solving the Plastics Problem: Cox Enterprises invests in Nexus Fuels
Nexus Fuels, LLC (Nexus), has secured a major investment from Cox Enterprises to accelerate its market expansion. Nexus converts waste plastics, formerly bound for landfills and oceans, back into their original components so they can be used to create new materials. Nexus’ environmentally friendly recycling process can convert waste plastics into virgin plastic precursors and resins that partners, like Shell and Chevron Phillips, can use to develop entirely new products.
Recent reports by the American Chemistry Council, Plastics News, McKinsey & Company, Inc., and others highlight the urgency of addressing environmental challenges posed by the growth in plastics waste. Nexus proves that plastics can positively meet society’s needs in their original form and then be converted into new products like furniture, home appliances and medical equipment — creating an infinite, circular lifecycle for plastics. This circular economy also reduces the need to continually mine for fossil fuels – delivering the tangible results the marketplace seeks.
Nexus has already sold more than 250,000 gallons of fuel and raw material, diverting more than 1,000 tons of waste plastics from landfills.
“We appreciate Cox’s dedication to improving the environment and their support of Nexus to convert waste plastics into new, environmentally-friendly products,” said Nexus CEO Jeff Gold. “More importantly, Cox understands that recycling solutions like Nexus must be economically viable to be sustainable over the long term.”
Nexus has partnered, from the outset, with Cox Enterprises — a company committed to healing and protecting our planet.
“With Cox’s full support, Nexus has created an end-to-end business, poised to grow globally,” said Nexus President and Co-Founder Eric Hartz. “This circular solution means all plastics currently above ground are all that’s ever needed.”
“Cox Enterprises is committed to protecting our planet and tackling sustainability challenges while growing our business,” said Steve Bradley, vice president of Cox Cleantech for Cox Enterprises. “By investing in cutting-edge companies like Nexus that bring viable solutions to real-world problems, we are building scalable businesses that create a positive impact on the planet.”
Since 2007, Cox Enterprises has invested nearly $1 billion in cleantech companies and solutions that are as diverse as they are innovative. These investments range from sustainable agriculture and energy services to waste conversion technologies, and include companies like Rivian, BrightFarms, Anuvia Plant Nutrients and Growers Edge, among others.
In addition to these investments, Cox Enterprises recently accelerated its goal to be carbon and water neutral from 2044 to 2034 as part of the company’s national sustainability program, Cox Conserves.
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