Global oil trader InterChem has invested £1m in a South West-based plastics recycling company.
Recycling Technologies, which is headquartered in Swindon, has now raised £3.7m through its Crowdcube funding drive, with more than 1,500 individual investors on board.
Robert Langstraat, chief executive at InterChem, said: “We see great value in Recycling Technologies’ solution for recycling plastic waste.
“The talented management team have developed a commercially attractive solution to recycle plastic which has the potential to scale rapidly.
“We look forward to supporting Recycling Technologies to build a business that will provide industrial quantities of recycled plastic feedstock, critical for the future of plastics manufacturing.”
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