Alternative Waste Solutions (AWS) has begun on a £14m (€19m) expansion of a bottle recycling plant creating the world’s largest facility for mixed plastic bottles. It will be located in Helmswell, Lincolnshire, and can handle up to 100,000 tonnes of mixed plastic bottles annually.
The plant will handle food grade plastics including PET and HDPE. It will not be fully functional until later this year, and it is expected to be at full capacity before the end of 2009.
AWS received £2m (€2.7m) from various sources to start the project: £1.5m (€2m) from the Sustainable Technology Fund managed by E-Synergy; £400,000 (€537,000) from North Star Equity Investors; and £100,000 (€134,265) from a private investor.
“There is growing demand in the UK for food grade recycled plastic that has been recovered from the UK waste stream,” commented E-Synergy’s Andrew Stevenson, who is an investment director on the board of AWS. “AWS has a substantial opportunity to grow very quickly, driven by strong customer pressure on drinks companies to use more recycled content in their bottles.”
Jonathan Short expects AWS to join AIM, the London Stock Exchange’s Alternative Investment Market, by the second quarter of 2009.
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