SEATTLE (Recycling Monster): In the United States Bankruptcy Court for the District of Delaware, a few subsidiaries of Brightmark's Ashley, Indiana facility have voluntarily filed petitions under Chapter 11 of the Bankruptcy Code. The company intends to sell assets associated with its Ashley pyrolysis facility as part of the proposal.

Brightmark Plastics Renewal, Brightmark Plastics Renewal Indiana, and Brightmark Plastics Renewal Services are the three subsidiaries that have declared bankruptcy. It should be mentioned that the Ashley facility turns "hard-to-recycle" and mixed polymers into fuel through pyrolysis. According to court filings, just 5% of the plant is currently in operation.

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The Ashley Plastics "circularity center" is the sole focus of the bankruptcy petition, according to the company, and it is not anticipated that this would have an impact on other areas of its operations. The facilities will remain open during the judicial proceedings. Additionally, the almost 90 people that work at the plant will not be impacted, according to the company's news release.

According to Brightmark CEO Bob Powell, the bankruptcy process is intended to guarantee the Ashley facility's long-term sustainability and the company's steady expansion.

Brightmark said earlier in April of last year that it would invest $950 million in a plant in Thomaston, Georgia, that would have the capacity to process 400,000 tons of plastic annually. The business is moving forward with submitting an application for an air permit for the project.