Eco Plastics wraps up funding deal
Eco Plastics' Lincolnshire base is to get a £1.15m boost from not-for-profit lender WRAP.
The deal aims to allow the site to recycle an additional 15,000 tonnes of rigid plastic packaging each year at the Hemswell location, bringing the total amount processed to 150,000 tonnes.
Recycling company Eco Plastics will also extend its existing bottle sorting and processing facility and will recruit an additional 12 employees.
Last year, the business formed a joint venture with Coca-Cola Enterprises last year to increase the amount of plastic bottles that were recycled, and extend the premises.
Jonathan Short, managing director of Eco Plastics said: "The processing of non-bottle rigid plastics packaging is the next logical step in UK plastics recycling infrastructure. But it is vitally important that we don’t run before we can walk - the processing infrastructure must be in place before we encourage further non-bottle rigid plastics collection across the UK.
"We support WRAPs vision to see this growth occur in the medium term, allowing companies like Eco Plastics to develop markets for the non-bottle plastic recyclate. It is an essential ingredient for a successful industry."
