Swindon, 16th July 2018 – Recycling Technologies Ltd, specialists in the chemical recycling of mixed plastic waste, today announced it has appointed a new Finance Director, Stephen Pascoe. Prior to joining Recycling Technologies, Stephen spent over 20 years at multinational professional services firm, PwC. His appointment comes at a time when Recycling Technologies prepares to raise additional finance to expand its operations.
Stephen is a senior finance professional and Fellow of the Institute of Chartered Accountants. He has worked with a wide range of organisations, from private businesses, private equity portfolio companies through to large multinational and listed companies, both in the UK and internationally. Whilst at PwC Stephen supported clients through a variety of business challenges including restructuring, acquisitions, external funding and accounting framework changes and most recently has worked to establish a finance function within a newly formed organisation.
Stephen will bring additional strategic financial and business expertise to Recycling Technologies as the company executes its next phase of development in the UK and Northern Europe.
Stephen Pascoe, the Recycling Technologies new Finance Director said, “I am delighted to join the company as it begins to execute plans to expand its operations and provide a valuable solution to recycle waste plastic in a financially attractive and responsible manner. In a world where only 10% of plastic waste is recycled, Recycling Technologies is well positioned to create significant value from plastic waste for its investors, customers and society in general.”
Recycling Technologies has developed and patented a plastics recycling machine called the RT7000 that can convert plastic waste back into oil called Plaxx®, from which new plastics can be made. Due to the chemical nature of the recycling process, the RT7000 is able to recycle plastics currently considered unrecyclable such as plastic film, laminated food pouches and crisp packets and even black plastics.
Adrian Griffiths, CEO, Recycling Technologies said, “We are thrilled Stephen is joining the Recycling Technologies team as our Finance Director. His expertise will prove invaluable to help us implement our strategies for growth to become a leading plastics recycling company with world leading engineering expertise and technology.”