U.K. plant to make recycled food-grade packaging.
The plant, operated by Closed Loop London, will transform the recycling of PET plastic in the U.K. The facility is expected to open at the end of this year and is scheduled to handle around 35,000 metric tons of packaging yearly.
Initiated by Closed Loop London, the project has received private equity funding from Foresight Venture Partners and a banking facility from Allied Irish Bank and is also supported by public sector funding from the London Development Agency and WRAR
Chris Dow, managing director of Closed Loop London, says: "We are delighted to be able to bring to the food packaging manufacturers a commercially viable and environmentally responsible option when specifying packaging."
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|Date:||May 1, 2007|
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