Leading food grade plastic recycling company Closed Loop Recycling, in which Foresight is an investor, has welcomed the latest figures released by Recoup showing a plastic bottle recycling rate of 45%, which is up from last year’s number of 39%.
Chris Dow, managing director of Closed Loop Recycling comments:
"Yet another year of powerful growth in collections rates is further proof that the British consumer is aware of the positive direct impact that recycling has on the environment.
"What’s more, we’re operating at record capacity and with the planned development of our Deeside plant we are in our strongest position yet to take even more of the UK’s valuable plastic bottle waste and give it a new lease of life as recycled food grade material.
"The whole industry has the support of UK and European government and we have been advising waste and enterprise ministerial teams regarding growing the value of the waste industry in the UK, to benefit all stakeholders.”
Closed Loop Recycling’s first plant in Dagenham is now turning over more than £1 million a month and is enjoying fantastic support from global partners such as Britvic, M&S, Sainsbury’s, Nampak and Solo Cup. The company is also in the process of raising £30 million to finance its expansion plans with UBS to maximise delivery on the massive demand for food grade recycled plastic.
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Notes to Editors
About Closed Loop Recycling
Closed Loop Recycling’s facility in Dagenham is the World’s first food grade mixed plastic bottle recycling plant. State-of-the-art sorting and reprocessing technology enables it to sort, granulate, wash and super-clean 35,000 tonnes of recovered plastic bottles, including milk and soft drink bottles which are typically from local authority collections, and turn them back into recycled raw material for new food and drink packaging. The plant diverts a significant amount of waste from both landfill and export and saves up to 52,500 tonnes of CO2 per annum.