A UK recycling company has received a £1 million equity investment from global energy trader InterChem.
Recycling Technologies has so far raised £3.4 million – close to its £3.7 million goal – on crowdfunding platform Crowdcube following support from more than 1,400 investors.
The company’s technology recycles all types of plastics, including films, coloured and laminated plastics such as crisp packages and food pouches.
It recycles the household plastic waste into an oil commodity, called Plaxx®, which replaces fossil fuel derived feestock in new polymer production and industrial waxes.
The investment will support the growth of the business to provide a commercial solution to chemically recycling plastic waste.