AZEK to collect thredUP’s post-consumer plastic
Clean Out Bags, process and turn them into new long-lived
TimberTech® composite decking, advancing both companies’ ESG and
recycling goals
The AZEK Company Inc. (NYSE: AZEK) ("AZEK" or the “Company”),
the industry-leading manufacturer of beautiful, low-maintenance and
environmentally sustainable outdoor living products, including
TimberTech® decking, Versatex® and AZEK® Trim, and StruXure™
pergolas, and thredUP (NASDAQ: TDUP), one of the largest online
resale platforms for women's and kids' apparel, shoes, and
accessories, are proud to announce a new recycling partnership to
responsibly transform plastic waste into long-lasting,
low-maintenance outdoor living products.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20221206005026/en/
The AZEK Company and thredUP announce a
new plastic recycling partnership transforming thredUP’s Clean Out
Kit plastic film into new TimberTech® by AZEK Composite Decking
(Photo: Business Wire)
Through this recycling partnership, AZEK will collect thredUP’s
polyethylene plastic Clean Out Bags after the contents have been
processed by thredUP, as well as thredUP’s post-industrial plastic
film waste, and transport them to AZEK’s vertically integrated
polyethylene recycling facility in Wilmington, Ohio. The materials
will be processed and incorporated into new TimberTech decking,
AZEK’s premium composite decking line that offers the natural
beauty of wood, is made from approximately 85% recycled material
and engineered to last a lifetime.
“It is unique collaborations with innovative and like-minded
companies such as thredUP that will help us meet our goal of
recycling one billion pounds of material annually by the end of
2026,” said Jesse Singh, CEO of The AZEK Company. “We are two
companies revolutionizing two industries – fashion and building
products – to create a more sustainable future, each of us with a
full circle commitment to have an outsized impact on the world,
while growing a sustainable business.”
Since 2019, AZEK has recycled nearly 1.7 billion pounds of
post-consumer and post-industrial waste and scrap material,
repurposing it into products across its outdoor living and building
products portfolio. In addition to its polyethylene plastic film
recycling capabilities, AZEK is the largest vertically-integrated
recycler of PVC in the United States.
“While thredUP’s mission is rooted in circularity, we are also
focused on ways to ensure our own operations are as sustainable as
possible,” said Alon Rotem, Chief Legal Officer of thredUP. “We are
proud to partner with AZEK and support their ambitious goal to
recycle one billion pounds of material annually. This partnership
is an exciting opportunity to level up our previous bag recycling
program and create long-lasting premium products that people can
enjoy and feel good about.”
Under this partnership, one-hundred percent of the Clean Out
bags thredUP receives will be sent to AZEK as post-consumer
material and repurposed into outdoor living products. These
products can last for decades and are also recyclable at the end of
their useful life. With a mission of inspiring a new generation of
consumers to think secondhand first, thredUP has processed more
than 137 million unique secondhand items and displaced more than
637 million pounds of carbon dioxide emissions. In September,
thredUP released its first Impact Report which outlines the
company’s business and brand-aligned environmental, social, and
governance (ESG) strategy and details the progress the company made
across ESG initiatives in 2021.
“At AZEK, our purpose-driven strategy is centered on creating
shared value that positively impacts all of our stakeholders –
products, people and the planet. We are proud to have thredUP join
us as a partner. Together, we are saving trash and saving carbon,”
continued Singh.
For more information on The AZEK Company, visit azekco.com.
For more information on thredUP visit, thredup.com.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS – THE AZEK
COMPANY
This release contains or refers to certain forward-looking
statements within the meaning of the federal securities laws and
subject to the "safe harbor" protections thereunder.
Forward-looking statements are statements about future events and
are based on our current expectations. These forward-looking
statements may be identified by the words “believe,” “hope,”
"expect," "intend," "will," "target," “anticipate,” "goal" and
similar expressions. Our forward-looking statements include,
without limitation, statements about future partnerships and their
expected or anticipated benefits, statements about our recycling
initiatives and ability to incorporate recycled content into our
products and statements with respect to our ability to meet the
future targets and goals we establish, including our environmental,
social and governance goals, and the ultimate impact of our actions
on our business as well as the expected benefits to the
environment, our employees, the communities in which we do business
or otherwise. We base our forward-looking statements on information
available to us on the date of this release, and undertake no
obligation to publicly update or revise any forward-looking
statements, whether as a result of changed circumstances, new
information, future events or otherwise, except as may otherwise be
required by law. Actual future events could also differ materially
due to numerous factors that involve substantial known and unknown
risks and uncertainties including, among other things, the risks
and uncertainties set forth under "Risk Factors" and elsewhere in
the our reports on Form 10-K and Form 10-Q and the other risks and
uncertainties discussed in any subsequent reports that we file with
the Securities and Exchange Commission from time to time. Although
we have attempted to identify those material factors that could
cause actual results or events to differ from those described in
such forward-looking statements, there may be other factors that
could cause actual results or events to differ from those
anticipated, estimated or intended. Given these uncertainties,
investors are cautioned not to place undue reliance on our
forward-looking statements.
About The AZEK® Company
The AZEK Company Inc. (NYSE: AZEK) is the industry-leading
designer and manufacturer of beautiful, low maintenance and
environmentally sustainable outdoor living products, including
TimberTech® decking, Versatex® and AZEK® Trim, and StruXure™
pergolas. Consistently recognized as the market leader in
innovation, quality and aesthetics, products across AZEK’s
portfolio are made from up to approximately 90% recycled material
and primarily replace wood on the outside of homes, providing a
long-lasting, eco-friendly, and stylish solution to consumers.
Leveraging the talents of its approximately 2,000 employees and the
strength of relationships across its value chain, The AZEK Company
is committed to accelerating the use of recycled material in the
manufacturing of its innovative products, keeping millions of
pounds of waste out of landfills each year, and revolutionizing the
industry to create a more sustainable future. Headquartered in
Chicago, Illinois, the company operates manufacturing and recycling
facilities in Ohio, Pennsylvania, Idaho, Georgia, Nevada, New
Jersey, Michigan and Minnesota. For additional information, please
visit azekco.com.
About thredUP
thredUP is transforming resale with technology and a mission to
inspire a new generation of consumers to think secondhand first. By
making it easy to buy and sell secondhand, thredUP has become one
of the world's largest online resale platforms for women's and
kids' apparel, shoes and accessories. Sellers love thredUP because
we make it easy to clean out their closets and unlock value for
themselves or for the charity of their choice while doing good for
the planet. Buyers love shopping value, premium and luxury brands
all in one place, at up to 90% off estimated retail price. Our
proprietary operating platform is the foundation for our managed
marketplace and consists of distributed processing infrastructure,
proprietary software and systems and data science expertise. With
thredUP's Resale-as-a-Service, some of the world's leading brands
and retailers are leveraging our platform to deliver customizable,
scalable resale experiences to their customers. thredUP has
processed over 137 million unique secondhand items from 55,000
brands across 100 categories. By extending the life cycle of
clothing, thredUP is changing the way consumers shop and ushering
in a more sustainable future for the fashion industry.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20221206005026/en/
The AZEK Company Inc. Amanda Cimaglia
media@azekco.com
thredUP Kayla Wilkinson media@thredup.com
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