Swindon, 19 December 2018 – Recycling Technologies is pleased to announce today that Ravish Jain has been appointed Commercial Operations Director and has joined the Executive Board. Ravish Jain’s promotion to the board comes at a time when this plastic chemical recycling specialist prepares to expand operations and commence development work for the company’s first commercial plant in 2018.
Ravish brings to the Executive Board years of combined regulatory compliance and funding experience in the energy sector. As Commercial Operations Director, Ravish will be responsible for securing further investment and funding, overseeing all commercial contracts and ensuring regulatory compliance. Ravish has an MBA from Warwick Business School, a degree in Mining Engineering and has been with the company since its early days. Before joining Recycling Technologies Ravish was working for Reliance Power in India in a business development capacity. Ravish has always been concerned about the problem of plastic polluting our beaches and oceans.
Adrian Griffiths, CEO, Recycling Technologies comments: “Ravish’s appointment further strengthens the expertise among our Executive Directors and his role as Commercial Operations Director will be critical as we build and grow our business in 2018. Ravish has been with the company since we started and has played a vital role in its growth, helping us to secure over £9m of funding to date. This investment has allowed the business to develop its technology into an economically attractive machine, the RT7000, that converts mixed plastic waste back into a valuable oil we call Plaxx®. Ravish is now leading our next fund raising with strategic investors and crowdfunding, which will enable us to grow the team, strengthen the business and start commercial operations.”
Ravish Jain comments: “I am delighted to be appointed to the Board of Recycling Technologies. I joined the company as an MBA Summer intern in 2013, when Recycling Technologies was in its infancy. I soon realised the enormity of the plastic waste problem and was excited to see the technical and commercially viable solution, being developed by the company.” Ravish continues, “I am now heading the commercial team at Recycling Technologies which is very focussed on providing growth for our current and new shareholders, as well as making a real difference in the global approach to recycling plastic”.
The combination of existing mechanical recycling and the arrival of chemical recycling of plastic has the potential to address the global anxiety over the economic waste and environmental damage associated with waste plastic. In the next ten years, Recycling Technologies’ goal is to divert 10million tonnes of plastic from landfill or incineration and quadruple the recycling capacity of the EU today.
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About Recycling Technologies
Recycling Technologies Ltd is creating value in residual plastic waste on a global scale. Recycling Technologies has developed a process to economically recycle mixed plastic waste – that is currently disposed of in landfill or incinerators – into a valuable hydrocarbon product, named Plaxx®, with multiple uses in the wax, fuel and petrochemical sectors. When distilled, awrd-winning Plaxx® can be used by polymer manufacturers to make new plastic thereby propelling plastic into the circular economy. Some of the UK’s leading experts in engineering, energy, waste management and commercial operations make up the Recycling Technologies team and board. Recycling Technologies’ chemical recycling process has been built into a modular machine, the RT7000, that will be mass produced and transported to existing recycling facilities around the world. The first commercial RT7000 will be operating in Scotland by the end of 2018. With an innovative distributed approach, Recycling Technologies has the potential to quickly scale to a meaningful global presence in the world of plastics recycling. For further information, please visit www.recyclingtechnologies.co.uk
Recycling Technologies Media Office
Tel: + 44 (0) 1189 497 736
Recycling Technologies Media Office
Tel: + 44 (0) 1189 497763