Nexus Fuels, LLC, a leading circular waste-plastics operation, has secured a major investment from Cox Enterprises to boost its market presence.

Nexus converts waste plastics into their original components so they can be used to create new materials — diverting thousands of tons of plastic waste from landfills and oceans.

According to Markets Insider, Nexus uses an environmentally-friendly recycling process that converts plastic into virgin components and resin that its partners, like Shell and Chevron Phillips, can use to develop entirely new products.

“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 extract fossil fuels — delivering the tangible results the marketplace seeks.”

Nexus President and Co-Founder Eric Hartz said that this circular economy means all plastics currently above ground are all that’s ever needed.

Since 2007, Cox Enterprises has invested nearly $1 billion in cleantech companies and diverse innovative solutions.

To show its commitment to environmental goals, Cox accelerated its goal to be carbon and water neutral from 2044 to 2034.