Nexus Fuels receives investment from media company

Atlanta-based Nexus Fuels LLC, a plastic scrap chemical recycling firm, has secured what it calls a “major investment” from broadcast media and automotive information services conglomerate Cox Enterprises, which also is based in Atlanta.

“We appreciate Cox’s dedication to improving the environment and their support of Nexus to convert waste plastics into new, environmentally-friendly products,” says 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 says has partnered “from the outset” with Cox Enterprises. “With Cox’s full support, Nexus has created an end-to-end business, poised to grow globally,” says Nexus President and Co-Founder Eric Hartz.

“Cox Enterprises is committed to protecting our planet and tackling sustainability challenges while growing our business,” comments Steve Bradley, vice president of the Cox Cleantech business unit of 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 says it has invested nearly $1 billion in cleantech companies in sectors ranging from sustainable agriculture and energy services to waste conversion technologies, including Michigan-based electric vehicle (EV) manufacturer Rivian.

Nexus says its plastic scrap conversion technology yields “virgin plastic precursors and resins that partners like Shell and Chevron Phillips can use to develop entirely new products.” The company says it has sold more than 250,000 gallons of fuel and raw materials, consuming more than 1,000 tons of plastic scrap.