IFC invests in MBA Polymers' plant.The International Finance Corp., as administrator of the Environmental Opportunities Facility, has invested $1.2 million equity in MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration Polymers Inc. to develop and operate a joint venture plastics recycling facility in Guangzhou, China. MBA Polymers, based in Richmond, Calif., has developed technology that can recycle highly mixed waste streams of high-value plastics on a commercial production scale. Raw material is converted for reuse into high-value engineering plastics, while also providing an environmentally attractive processing channel for a recyclable resource that would otherwise be destined des·tine tr.v. des·tined, des·tin·ing, des·tines 1. To determine beforehand; preordain: a foolish scheme destined to fail; a film destined to become a classic. 2. for landfills or incineration incineration the act of burning to ashes. . "Choosing China for its first plastic recycling Plastic recycling is the process of recovering scrap or waste plastics and reprocessing the material into useful products, sometimes completely different from their original state. plant outside the United States was a strategic part of MBA's international expansion," Karin Finkelston, IFC's associate director for China, says. "The company's efforts will help create more sustainable manufacturing activities for all connected industries which, without MBA's technology, would end up producing waste streams that contaminate con·tam·i·nate v. 1. To make impure or unclean by contact or mixture. 2. To expose to or permeate with radioactivity. con·tam·i·nant n. groundwater and pollute the air." MBA CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Mike Biddle says, "MBA Polymers is pleased to have IFC (Internet Foundation Classes) A class library from Netscape that provides an application framework and graphical user interface (GUI) routines for Java programmers. IFC was later made part of the Java Foundation Classes (JFC). See JFC, AFC and AWT. See also ICF. tangibly recognize the significant environmental and economic benefits of our technology." He adds, "We intend to build additional recycling facilities in countries where IFC is focusing its development efforts and we look forward to further projects together." The Environmental Opportunities Facility was established in 2002 to provide flexible financing to innovative ventures that have a strong potential to increase environmental sustainability but that must overcome the uncertainty associated with new markets, new technologies and new ways of doing business. It is part of IFO's Sustainable Business Assistance Program, which provides a platform for making highly selective, strategic interventions in key environ mental sectors where the demonstration of sustainable business practices offers potentially significant benefits. Key funders of the plant include the governments of Austria, Italy, the Netherlands and Norway, as well as IFC. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion