07 January 2009 - Foresight Group (“Foresight”), a leading alternative asset manager, announced today that it has completed an investment of £5 million in 2K Manufacturing (“2K”) Limited, a London based company which will manufacture a plywood substitute from waste plastics. The product has multiple uses across a number of industry sectors, including signs, automotive and construction.
The multi award winning ‘Eco Sheet’ is made from recycled waste plastics otherwise headed for landfill and is itself entirely recyclable. The Eco Sheet offers a viable alternative to the existing non-recyclable, high carbon footprint, site hoarding frames traditionally made of painted plywood traditionally used in the construction industry.
To produce the Eco Sheets, 2K has licensed a unique patented technology. This licensing arrangement gives 2K exclusive rights to manufacture and sell these products within the EU and several other large territories.
Production is expected to commence at the first facility in East London in 2009, with further production facilities planned to follow soon after. In total 2K plans to establish 11 plants in the UK, which will allow the production of up to 4 million Eco Sheets per annum.
Andrew Page, Partner at Foresight, comments:
“2K represents a compelling investment opportunity in an attractive area of the environmental infrastructure market. The company has already seen strong interest from leading players in a number of industry sectors, including signs, automotive and construction industries, and we firmly believe that the strength and experience of management, coupled with the innovative product and patented process, means that 2K is well placed to capitalise on the opportunities which lie ahead.”