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Waste & Recycling March 15, 2018 12:30:27 PM

Fresh Investment in Recycling Technologies To Boost Commercial Recycling

Paul Ploumis
ScrapMonster Author
The recent investment by InterChem brings the total amount raised to date to nearly £3.4 million. The company had begun the crowdfunding fund raising programme during mid-February this year.

Fresh Investment in Recycling Technologies To Boost Commercial Recycling

SEATTLE (Scrap Monster): Recycling Technologies-one of the UK’s leading experts on Plastics, Waste Management and Engineering Processes has announced equity investment of £1 Million from energy trader InterChem.

The strategic investment is part of the company’s Crowdcube fund raising campaign. According to Recycling Technologies, the fund raising campaign has attracted considerable support from investors. The recent investment by InterChem brings the total amount raised to date to nearly £3.4 million. The company had begun the crowdfunding fund raising programme during mid-February this year.

Adrian Griffiths, chief executive, Recycling Technologies stated that the company is grateful for the tremendous investor support from InterChem. The investment will lead to further business opportunities with InterChem including the sale of its proprietary Plaxx products. The investments will boost the company’s efforts to develop commercial solution to chemically recycled waste plastic.

ALSO READ: Start-Up Devours Pollution with New Plastic Recycling Method

Robert Langstraat, chief executive, InterChem noted that the company sees great value in Recycling Technologies’ solution for recycling plastic waste. The solution developed by the company needs to be scaled to commercial levels, he noted. The significant investments received during the campaign would support the company in building a business that will generate industrial quantities of recycled plastic feedstock, Langstraat added.

The state-of-the-art RT7000 machine by Recycling Technologies is capable of recycling all types of plastics, including those considered unrecyclable such as films, coloured and laminated plastics. The machine uses a patented process which chemically recycles residual plastic waste, removes contaminants and additives to distil it into a valuable hydrocarbon product, called Plaxx. Incidentally, Plaxx had recently won the ‘Best Recycled Plastic Product of the Year’ Award under 2017 Plastics Industry Awards (PIA).

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