On April 22, 2026 — World Earth Day — Phelix New Materials held a groundbreaking ceremony for its 120KTA advanced recycling plant in Jinshan District, Shanghai. The company secured hundreds of millions RMB Pre-A round led by Co-Win Ventures, with Step Fund and other institutions as participants.

As a chemical recycling facility, the plant is equipped with both pyrolysis and hydrogenation units, and its output matches the quality of naphtha. Benefiting from superior geographical location, its pyrolysis oil can be delivered via pipelines to the nearby Shanghai Petrochemical for the production of high-end chemical products. 

Phelix's Jinshan project in Shanghai officially commences.

Cracking the "White Pollution" Code with a Novel Chemical Recycling Path

Phelix focuses on the valorization of polyolefin waste plastics, addressing the long-standing industry pain points of low value and difficult processing. Its proprietary e-PtL patented chemical recycling technology efficiently converts low-quality waste plastics — those hard to handle by traditional mechanical recycling — into high-value circular chemicals equivalent to fossil-based raw materials, achieving a liquefaction conversion rate of over 85%.

This innovation establishes a low-carbon, closed-loop, and scalable circular system that reduces white pollution at the source and significantly decreases dependence on virgin petrochemical resources.

The company has built a robust portfolio of patents and software copyrights and has been recognized as a National High-Tech Enterprise. The newly launched 120KTA annual capacity project will be deeply integrated into the Yangtze River Delta's high-end chemical industry chain, demonstrating a clear and scalable path to commercialization.

Deep Integration of Capital and Industry to Accelerate Scale-Up

As the lead investor, Co-Win Ventures offers financial and industrial support to accelerate Phelix's technological upgrading, production construction and business expansion. The synchronous progress of financing and project construction will further drive the low-carbon development of the recycled plastics industry.

Groundbreaking ceremony of Phelix's 120KTA circular-based new materials project in Shanghai.