Europe’s largest recycler of mixed plastic bottles ECO Plastics (Hemswell, Lincolnshire / UK; www.ecoplasticsltd.com) has raised GBP 24m (EUR 27.3m) to fund expansion plans for its joint venture with Coca-Cola Enterprises (CCE, Uxbridge, Middlesex / UK; www.cokecce.co.uk) – see Plasteurope.com of 11.03.2011. The investment will support the construction and operation of an expansion to the existing recycling facility at Hemswell, raising capacity at the site from 100,000 t/y to 140,000 t/y. It will supply rPET to Coca-Cola Enterprises for 10 years after becoming fully operational during 2012 – see Plasteurope.com of 12.05.2011.

The funds include a GBP 5m (EUR 5.7m) equity investment by Ludgate Environmental Fund (London / UK; www.ludgateenvironmental.com) and the previously announced GBP 5m (EUR 5.7m) from CCE. The balance is being funded through new banking facilities for ECO Plastics. Commenting on the successful funding initiative, ECO Plastics chairman Peter Gangsted said it represented an important milestone for both the drinks manufacturing industry and the recycling industry. He added: “The UK sustainable packaging market has huge growth potential and our expansion will make ECO Plastics a world leader.”

ECO Plastics claims its plant is the most technically advanced plastics recycling facility in Europe, operating with superior cleaning technology. It produces 11 different plastic streams. The rPET it will provide for CCE will enable the soft drinks company to achieve its target of including 25% of rPET in all its plastic packaging in Great Britain by 2012.