OIL TRADER PUTS £1M INTO RECYCLING COMPANY 13 M
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Posted On: 03/13/2018 10:30:06 PM
OIL TRADER PUTS £1M INTO RECYCLING COMPANY
13 Mar 2018
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."
The country will now look for other investment to bring them up to the £8m needed to fund their first full-capacity RT7000 plastics processor, which turns a number of different plastics into a substance they call "Plaxx".
The first fully operational RT7000 will be based in Scotland.
Adrian Griffiths, chief executive at Recycling Technologies, said: "We are delighted to announce this important £1m investment from InterChem.
"We anticipate this investment will lead to further business opportunities with InterChem including the sale of Plaxx to its polymer manufacturing client base.
"We are very grateful for the tremendous investor support from InterChem and all our investors from Crowdcube who will support the growth of the business to provide a commercial solution to chemically recycle waste plastic.
https://www.insidermedia.com/insider/southwes...ng-company
13 Mar 2018
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."
The country will now look for other investment to bring them up to the £8m needed to fund their first full-capacity RT7000 plastics processor, which turns a number of different plastics into a substance they call "Plaxx".
The first fully operational RT7000 will be based in Scotland.
Adrian Griffiths, chief executive at Recycling Technologies, said: "We are delighted to announce this important £1m investment from InterChem.
"We anticipate this investment will lead to further business opportunities with InterChem including the sale of Plaxx to its polymer manufacturing client base.
"We are very grateful for the tremendous investor support from InterChem and all our investors from Crowdcube who will support the growth of the business to provide a commercial solution to chemically recycle waste plastic.
https://www.insidermedia.com/insider/southwes...ng-company
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