The Welsh Government has launched a new £6.5 million fund as part of its efforts to help businesses boost the use of recycled materials.
Organisations can apply for grants of between £25,000 and £750,000 for circular economy projects that maximise their use of recycled content in manufactured products, components or packaging.
Circular economy is an approach that encourages keeping resources in circulation instead of being burned or ending their life in landfill.
The government believes creating a circular economy for plastic waste is a “huge opportunity” for the Welsh economy as well as benefitting the environment – the nation currently recycles more than anywhere else in the UK.
Hannah Blythyn, Deputy Minister for Housing and Local Government said: “Wales on a journey towards becoming a circular economy, which means making more of the products we consume and recycling as much waste as possible.
“Our fund will help to cover some of the costs of investing in new equipment and infrastructure, increasing the use of recycled materials in Welsh manufacturing. We know this has the potential to bring significant cost savings as well as helping businesses to reduce their carbon footprint. Increased use of recycled material provides economic opportunities. It also helps create and protect jobs by making Welsh manufacturing companies more resource efficient and resilient in terms of the security of supply of raw materials.”