J&V Energy invests in Nexus Materials to promote recycled plastic bags

23 January 2024 12:07

Center for Green Economy

Taipei - Sustainable energy developer J&V Energy has announced a US$33.3 million investment in Nexus Materials. The goal is to produce 100% recycled plastic bags, and to promote plastic recycling technology. 

J&V Energy is diversifying into offshore wind power, energy storage systems, energy trading, water treatment and biomass energy through mergers and acquisitions or cooperation with foreign companies. The Taiwanese sustainable energy developer has announced a US$33.3 million investment in Nexus Materials to produce 100% recycled plastic bags and to promote plastic recycling technology, according to an article on CNEWS

The General Manager of J&V Energy, Ms Chao Shu-Min, pointed out that “plastic products have become indispensable in our lives, but at the same time they cause environmental problems to our land and sea.” The company is committed to creating a low-carbon living environment. Chao also mentioned that in order to make the use of plastics more sustainable and environmentally friendly, it is necessary to increase the recycling rate, the efficiency of its reproduction, and the economic benefits.

Originally founded in California, Nexus Materials is a company that recycles plastic packaging film for use in the electronics and agricultural industries. It has successfully introduced the first 100% recycled plastic bags in the United States. 

The founding team returned to Taiwan in 2021 and set up a factory with their manufacturing process and expertise to continue recycling plastic packaging film from shopping malls, factories, and farms. For example, their agricultural film is used film in strawberry farms. The used film is collected, processed and cleaned, then restored to polyethylene plastic granules. The granules are used for new plastic bags. 

The plastic raw material recycling process also uses a biological recycling system to recover almost 100% of the wastewater for reuse, as well as a vacuum cycle to recycle the heat and exhaust gas generated during the carbon emission reduction process, making it a complete circular economy model.

Ms Chao said that J&V’ investment in Nexus Materials would multiply the effect of the strong alliance, help it expand its business reach and, most importantly, promote low-carbon and recycling technology. At the International Plastics Fair IPF Japan last month, Nexus Materials also attracted the attention of several of Japan’s largest cooperations, who intend to work together with Nexus Materials in the near future. ce/cy