Circulate Capital joined with Closed Loop Partners and Ocean Conservancy today to announce its launch as a new impact-focused investment firm, which will focus on companies, innovation and projects that prevent ocean plastic in South and Southeast Asia. ACC issued the following statement, which may be attributed to Steve Russell, ACC’s vice president of plastics and a member of the Closed Loop Ocean steering committee, which helped to create Circulate Capital:
“America’s plastics makers welcome the introduction of Circulate Capital and look forward to supporting their work to expand systems and technology to capture, recycle or repurpose more plastics in regions that lack waste management infrastructure. We are confident in Rob Kaplan’s leadership and believe this new venture will invigorate global efforts to incubate and finance solutions in areas where most plastics leakage is occurring.
Plastics makers have helped lead efforts to grow plastics recycling and recovery for decades, and we continue to do so. We believe Circulate Capital can help expedite critical advancements where they are needed most by providing seed funding that can potentially unlock additional investments.
Growing and improving systems to collect used plastics and convert them into valuable products is the fastest and most certain means to clean up our ocean and improve peoples’ lives. We look forward to working with Circulate Capital to advance this important cause.
Plastics makers are committed to rapidly advancing a more circular economy for our materials and products. In the United States, we have publicly committed to making all plastics recyclable or recoverable by 2030 and to making sure all plastics used domestically are recycled or recovered by 2040.”
For more information, visit www.americanchemistry.com.