Avient Collaborates with Oceanworks® to Expand Use of Recycled Ocean Plastics

CLEVELAND, June 14, 2021 /PRNewswire/ -- Avient Corporation (NYSE: AVNT), a premier provider of specialized and sustainable material solutions and services, has announced it is collaborating with Oceanworks® to help customers incorporate recycled ocean plastics in their products. Recycled ocean and ocean-bound plastics are those recovered from the ocean, waterways, and ocean-bound collection zones within 50 km of a coastline.

Building on the 2020 launch of reSound^™ R recycled content thermoplastic elastomers (TPEs) created with Oceanworks recycled plastics, Avient and Oceanworks are now collaborating on an expanded recycled ocean plastics portfolio. The resulting custom-formulated materials – both TPEs and thermoplastics – will be based on Oceanworks Guaranteed* base resins. Oceanworks will also provide source validation so that brands can confidently and transparently share the story and impact of these materials.

Avient and Oceanworks initially connected through the Alliance to End Plastic Waste (AEPW). Avient is a founding member of AEPW, joining in 2019. Oceanworks was selected in 2020 as a breakthrough venture to be incubated under AEPW's Innovation program with early-stage startup accelerator, Plug and Play.

"Expanding our collaboration with Oceanworks aligns closely with our sustainability commitments as a formulator and our focus on helping customers meet their sustainability goals," said Walter Ripple, Vice President, Sustainability, Avient Corporation. "Oceanworks maintains the largest global marketplace for recycled ocean plastics and brings knowledge and capability that are invaluable to building this new portfolio."

"As a leading global polymer material formulation expert, Avient will help us to further extend the usage of recycled ocean plastics to specialty formulations and applications," said Rob Ianelli, Founder and President at Oceanworks. "Their global customers represent a wide range of end markets that value the addition of recycled ocean plastics. Every ton of at-risk plastic waste successfully averted on its path to the ocean is part of the solution. We are thrilled to have the opportunity to drive further customization and scale in collaboration with Avient."

"Customers want to utilize recycled ocean plastics, but many times don't know how to source or evaluate it," Mr. Ripple explained. "Through this new collaboration, customers now can incorporate recycled ocean plastics solutions to help them achieve both performance and sustainability goals."

Avient's solutions with Oceanworks' recycled ocean plastics content are available globally and can be utilized in a variety of TPE and engineered thermoplastic formulations.

*Oceanworks® Guaranteed materials are independently validated. Oceanworks conducts third-party testing through its laboratory partners to confirm resins are contamination free and processing parameters are met. The Oceanworks Guaranteed mark indicates that the material meets specifications and has been sourced in compliance with international standards for business, environmental, and fair labor practices. Traceability is ensured with Oceanworks Guaranteed material and transaction certificates for each order. 

About Oceanworks
Oceanworks® is a digital marketplace connecting local recycled plastic supply with global demand to keep plastic out of the ocean. The marketplace offers 100s of ocean and averted plastic resins, textiles, and products from trusted suppliers worldwide. Oceanworks quality standards allow customers to purchase with confidence and the capacity of the global network provides security at scale. Customers, brands and suppliers that use the Oceanworks® Guarantee become part of a larger solution - a circular economy to end ocean plastic. To learn more visit oceanworks.co.

About Avient
Avient Corporation (NYSE: AVNT), with expected 2021 revenues of $4.3 billion, provides specialized and sustainable material solutions that transform customer challenges into opportunities, bringing new products to life for a better world. Examples include:

• Barrier technologies that preserve the shelf-life and quality of food, beverages, medicine and other perishable goods through high-performance materials that require less plastic
• Light-weighting solutions that replace heavier traditional materials like metal, glass and wood, which can improve fuel efficiency in all modes of transportation
• Breakthrough technologies that minimize wastewater and improve the recyclability of materials and packaging across a spectrum of end uses

Avient employs approximately 8,400 associates and is certified ACC Responsible Care®, a founding member of the Alliance to End Plastic Waste and certified Great Place to Work®.  For more information, visit www.avient.com.

To access Avient's news library online, please visit www.avient.com/news.

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SOURCE Avient Corporation

Investor Relations Contact: Giuseppe (Joe) Di Salvo, Vice President, Treasurer and Investor Relations, Avient Corporation, +1 440-930-1921, giuseppe.disalvo@avient.com; Media Contact: Kyle G. Rose, Vice President, Corporate Communications, Avient Corporation, +1 440-930-3162, kyle.rose@avient.com