Recycling Technologies raises £3.7m of equity investment from crowdfunding, angel investors and strategic investors

Press Releases

Swindon, 20 March 2018 – Today, Recycling Technologies, a specialist in the chemical recycling of mixed plastic waste, announced it closed its fund raising on Crowdcube on 7th March 2018. It was oversubscribed by more than 300%, reaching its cap of £3.7m in just over two weeks after opening to investors on Crowdcube for a target raise of £1.2m.

Recycling Technologies began a fund raising on the crowdfunding platform on February 16th, 2018. This fund raising attracted considerable support from just over 1,500 investors. The company drew investment from its existing investors, strategic investors and members of the public. A substantial investment of £1m from InterChem, a global petroleum and petrochemicals trader, meant that the round closed 9 days before the scheduled close date.

In a world where only 10% of valuable plastic waste materials are recycled each year, Recycling Technologies’ innovative RT7000 machine recycles mixed plastic waste, including those considered unrecyclable such as films, coloured and laminated plastics including crisp packets and food pouches. The RT7000 recycles this broad range of plastic waste into a valuable oil commodity, called Plaxx®, which replaces fossil-fuel derived feedstock in new polymer production and industrial waxes. Recycling Technologies has an aim to add 10 million tonnes of plastic recycling capacity, worldwide, by installing 1,300 RT7000 machines by 2027.

Adrian Griffiths, CEO, Recycling Technologies, said:
“We are very grateful to all our investors for their tremendous support and thank them for their backing of the team at Recycling Technologies. This is an important first step to change the story of plastic providing a commercial solution to chemically recycle waste plastic currently blighting the World’s environment. We can now accelerate our operations and acquire a facility to assemble the RT7000 machines.”

This press release has also been featured in the following publications:

Environment Journal

Plastics News Europe

The Recycler

British Plastics & Rubber

Notes to editors:

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 and petrochemical sectors. Award-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. 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

Media contacts
Paula Elliott
Recycling Technologies Media Office
Tel: + 44 (0) 1189 497 736
Email: paula@c8consulting.co.uk

Angela Feuillet
Recycling Technologies Media Office
Tel: + 44 (0) 1189 497763
Email: angela@c8consulting.co.uk

Share this Post