Plastics recycling firm Closed Loop Recycling is planning to open a series of plants across Britain. The company, which produces food-grade rHDPE and rPET, has hired UBS bank to help raise £30 million in financing for its plans. Closed Loop Recycling already has a plant in Dagenham, Essex, which has been operating since 2008 and has been very successful. The company is now intent on building a second plant on Deeside.
The Dagenham plant already produces 35,000 tonnes of plastic bottles from consumer waste every year. The new plant will bring total annual production capacity up to 85,000 tonnes. The combined saving in carbon dioxide works out to 127,500 tonnes per year. The recycled plastics produced by Closed Loop Recycling are suitable for food packaging and are used by companies like Coca-Cola, Nampak, Solo Cup Europe, Alpla and Logoplaste.
The production of rPET and rHDPE requires substantially less energy than needed to produce fresh plastics. Production generates substantially lower carbon emissions and the benefits are seen throughout the product supply chain. In addition, recycling process takes more plastic out of refuse, cutting the amount of plastic that ends up in landfill.
Chris Dow is the managing director of Closed Loop Recycling. He is confident that his firm has proven it has the experience, track record and technical expertise to attract investment. He sees the level of recycling expanding as consumer education continues to build awareness among households and local authorities provide further recycling services. He added that appropriate government incentives will boost both the economy and the environment.
|
|
