Plastic to Chemicals Firm Secures £3.4m on Crowdfunding Platform

Recycling Technologies announces a £1 million equity investment from InterChem

UK plastic waste to chemical specialist, Recycling Technologies, has secured a strategic £1 million equity investment from global oil trader, InterChem.

Image ©

UK plastic waste to chemical specialist, Recycling Technologies, has secured a strategic £1 million equity investment from global oil trader, InterChem.

The company began a fund raising on the crowdfunding platform, Crowdcube, on February 16th 2018. It said that th fund raising has attracted considerable support from over 1400 investors. InterChem’s investment, on the same terms as existing and new Crowdcube investors, brings the total amount raised to date to just under £3.4 million, which is very close to Recycling Technologies’ current cap of £3.7 million

According to Recycling Technologies, its RT7000 machine recycles all types of plastics, including those considered unrecyclable such as films, coloured and laminated plastics including crisp packets and food pouches.

The RT7000, recycles this broad range of household plastic waste into an oil commodity called Plaxx® which is said to replace fossil-fuel derived feedstock in new polymer production and industrial waxes. 

InterChem is a global commodities trader that specialises in the financing, storage, blending and logistics in the world-wide petroleum and petrochemical industry. It is said that it is committed to backing innovative companies in the clean technology space, especially one providing recycled product to polymer producers seeking a more sustainable value chain.

“We anticipate this investment will lead to further business opportunities with InterChem including the sale of Plaxx® to its polymer manufacturing client base,” said Adrian Griffiths, CEO, Recycling Technologies.

Robert Langstraat, CEO of InterChem added: “We see great value in Recycling Technologies’ solution for recycling plastic waste. The talented management team have developed a commercially attractive solution to recycle plastic which has the potential to scale rapidly.”

Read More
Waste Plastics to Oil Firm Recycling Technologies to Participate in Unreasonable Impact
Recycling Technologies has been selected to take part in Unreasonable Impact, the first international network of accelerators focused on scaling up entrepreneurial solutions to social and environmental problems while tackling global unemployment.

VIDEO: The Ocean Clean UP Launches Prototype to Remove Waste Plastic from Oceans
A Dutch foundation developing technology to remove waste plastics from the world’s oceans has launched a working North Sea prototype.

New Unifi Bottle Recycling Plant Takes Recycling a Step Further
In Reidsville, North Carolina Unifi, Inc. has celebrated the opening its REPREVE® Bottle Processing Center as part of its new Plastics Recycling Facility.