UK based waste plastic to oil technology firm, 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.
The firm is one of 10 other enterprises from the UK and Ireland chosen. It said that it was selected for its focus on a highly scalable solution of converting residual plastic waste into low sulphur hydrocarbon called Plaxx™ to address the global problem of plastic waste.
Additionally, the company claimed to have demonstrated the potential to create at least 500 new jobs over the next five years.
Together, each selected venture aims to catalyse thousands of jobs through introducing new industries and technologies that solve seemingly intractable global challenges.
Unreasonable Impact is a partnership initiative created by Barclays Bank in collaboration with the Unreasonable Group, a platform for entrepreneurs solving global challenges with highly scalable models.
The first programme runs from 24 September – 8 October 2016 in Gloucester, with additional programmes launching in the US later this autumn and in Asia in spring 2017.
In addition to Recycling Technologies, the other 10 participating companies focus on a diverse range of global challenges, including food production, remote healthcare support, deforestation, water shortage, wastewater treatment, and sustainable recycling.
During the two-week UK programme, the entrepreneurs will receive focused and bespoke support, advice, and guidance from business experts, serial entrepreneurs, and key funders to help them scale their ventures and create the much needed jobs of tomorrow.
Discussing the firm’s participation Adrian Griffiths, CEO of the firm said that both Recycling Technologies and Unreasonable Impact believe in tackling global issues and the recycling of residual waste plastic.
“Success would not only have significant environmental impacts but create employment opportunities in industries around the world,” he said.
Daniel Epstein, founder and CEO of Unreasonable Group said: “Within the next four years, it is estimated that we will need 212 million new jobs to accommodate current unemployment and projected job loss due to new industries.
He added that the solution to alleviating global unemployment lies in supporting and scaling high-growth entrepreneurs like Recycling Technologies as job creators.
For more on plastic to oil and Recycling Technologies don’t miss the current issue of WMW.
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