The world’s largest bottle recycling plant is set to expand, reports businessgreen.com.
Operators of the facility, ECO Plastics, have raised £6 million from shareholders and its debt provider to further expand the site based in Hemswell, Lincolnshire in the coming year.
The site, which processes 150 million tonnes of mixed plastics per year that have come from recycling bins, was already expanded in May.
It became the largest facility of its type after teaming up with Coca-Cola Enterprises (CCE) in a joint Continuum Recycling Venture that cost £24 million.
Jonathon Short, managing director of ECO plastics told thisislincolnshire.co.uk that the the company is ready for the new venture, saying: “ECO Plastics is now ready to tackle another period of rapid growth.”
He continued: “We have made huge progress over the past three years, and this investment leaves us ideally positioned to continue to develop our state-of-the-art facilities and to take advantage of any other expansion opportunities that arise.”
Mr Short also added that the fact shareholders were willing to invest in the company showed that the had confidence in its future.
Shareholders who have contributed to the expansion include Ludgate Environmental Fund and Robeco SAM Private Equity. ECO plastic debt provider, Close Brothers, has also committed to funding for the venture.