8th September 2017
After closing its latest funding in record time, Recycling Technologies is now on the hunt for new sites
Recycling Technologies is keen to meet up with waste companies and suppliers on stand 4H33 at the RWM Exhibition
Swindon, 6th September 2017 – Recycling Technologies today announced that it has closed a recent funding round in record time raising £5 million and the company is now actively on the lookout for further sites for its breakthrough chemical recycling machine which turns residual plastic waste back into the oil it originally came from. Recycling Technologies will be at the RWM Exhibition in Birmingham next week (12 – 14th September) and is keen to meet with waste management partners and suppliers to start discussions about new site acquisitions in 2018 and beyond.
Recycling Technologies chemically recycles waste plastics mechanical recycling cannot treat.
Recycling Technologies has operated successfully at the Swindon Material Recovery Facility (MRF) based in Cheney Manor using its chemical technology to recycle residual plastic waste back into a valuable low sulphur hydrocarbon product called Plaxx®. Plaxx can be used as a feedstock for new polymer and wax manufacturing, replacing fossil-fuel derived raw materials and propelling plastics into the circular economy. Recycling Technologies is now preparing for further trials at the end of the year to ramp up to continuous 24/7 operations. This new chemical recycling technology offers an alternative to landfill and energy from waste (EfW) incineration for residual plastic waste and boosts the recycling rate for mixed plastics from 30% achieved with existing mechanical treatment, to 90% with these technologies combined.
Following a very successful year, Recycling Technologies is now looking to partner with more waste management operators and local councils with a view to increasing the number of sites from which it can operate. The machine Recycling Technologies has created takes the solution for plastic waste to the source of the problem, usually a MRF or PRF, rather than the problem to the solution. The technology is housed in a chemical recycling unit called the RT7000, capable of treating 7,000 tonnes of mixed plastics per annum from household and C&I streams. Findings from a recent Ricardo AEA life cycle assessment, indicates that by diverting the plastic waste from EfW, 2.2tonnes of CO2e can be saved for every tonne of plastic waste processed into Plaxx.
Not only is the RT7000 an environmentally preferred option, it is cost effective for sites due to lower gate fees and the ‘build own and operate’ business model of Recycling Technologies that retains responsibility for the unit’s installation, maintenance and operation, removing this burden from the site owner. The unit will be manufactured off-site and is easily scalable and transportable thanks to the RT7000’s modular design which sits within standard 20ft ISO shipping frames.
By combining mechanical and chemical recycling and working them in synergies, virtually all plastics from households, offices and shops can be recycled. Even materials that previously have been regarded as unrecyclable including black trays, laminated food pouches, films and contaminated food packaging can be processed. With Recycling Technologies as part of the processing infrastructure, there is potential for local councils to consider simplifying the collection of plastic waste from households and commercial sites into a single all plastics bin.
As Bernie Brannan, Corporate Director Swindon Borough Council, explains “It is evident that this technology should have financial, environmental and economic benefits, not only for Swindon but further afield as well.”
On the back of its activity in Swindon’s Cheney Manor MRF, Recycling Technologies is establishing recycling facilities in Scotland in as early as 2018 to support delivery of the Scottish Government’s circular economy strategy. The RT7000 will be located in Binn Farm, Perthshire, run by a leading independent recycling and waste services company Binn Group. David Sanderson, Group Finance Director of Binn Group is excited about the opportunity “This innovative chemical recycling technology solution manages plastics waste streams from diverse sectors enabling us to improve services, reduce costs and meet environmental commitments. Partnering with Recycling Technologies gives Binn Group a distinct advantage in the Scottish plastic waste market.”
These exciting developments mean that Recycling Technologies now has a growing need to hire new recruits from the waste industry to operate future plants. In particular it has already extended and is actively seeking to further strengthen the team in operations, manufacturing and engineering. Hires this year have also included a new Chairman, Howard Lack, and a new Investor Director, Geoffrey Phillips.
Adrian Griffiths, CEO at Recycling Technologies adds: “2017 has been a fantastic year for Recycling Technologies. We have a viable solution to make the circular economy a reality and taking End-of-Life Plastic and turning it into more plastic is a great way to do this. As a team, we’ve come a long way in a short period of time and I am very excited for what the future holds in Swindon, Scotland and as we expand in the UK and internationally. The investment we are getting shows that there is a lot of support and belief in what we are achieving. This is a great moment for talented people to join the company.”
Recycling Technologies’ ambition is to provide a scalable solution to boost recycling rates for plastics within the UK and globally. With the general public alarmed at plastics in the ocean and the global market for plastics production of 322m tonnes per annum expected to double in 20 years, there is a growing and pressing need for Recycling Technologies’ chemical solution for recycling mixed plastics waste.
If you are interested in siting a RT7000 in your operations or meeting up with Recycling Technologies at RWM, please go to stand 4H33 in Hall 4 or please visit the website to book an appointment now.
This press release has been featured in the following publications:
Waste Management World: Recycling Technologies Secures £5m to Expand Plastic Recycling Operations
Recycling Today: Recycling Technologies searches for new sites for equipment
Plastics News Europe: Recycling Technologies looking for new site to install recycling machine
Lets Recycle: Swindon council backs ‘plastics into oil’ technology
