Closed Loop Recycling invest £12m in London plant
Producers of food-grade recycled plastic, Closed Loop Recycling, announced significant new plans to double the size of their Dagenham facility at the British Business Embassy Energy summit at Lancaster House, London, yesterday (6 August).
The expansion is expected to cost £12 million, and will see the plant’s capacity increase from 35,000 to 85,000 tonnes a year. Closed Loop Recycling has indicated that the changes would create 100 new jobs and make the facility “the most advanced plastics purification site in the UK”.
At present, the Dagenham facility sorts, granulates, washes and cleans recovered plastic bottles which are then turned back into recycled raw material, ready to be processed into new PET and HDPE food and drink packaging. Closed Loop Recycling has said that construction on the plant is likely to begin in 2013 and once the facility is at full production, could potentially save up to 100,000 tonnes of CO2 per annum by diverting waste from landfill.
The company was initially created in response to the Sydney Olympics in 2000, and was established in the UK in 2008. Announcing the plans yesterday, Closed Loop Recycling’s CEO, Chris Dowe, paid tribute to the company’s “proud” Olympic heritage:
"We were in the original bid book which helped London win the Olympics back in 2005 and now seven years later we've got one of the best plastic-recycling facilities in the world right here in London. The Olympics can lay claim to stimulating development of some very high-tech infrastructure investment, winning gold medals on every front."
Those present at the Energy summit included Deputy Prime Minister, Nick Clegg, and Trade and Investment Minister, Lord Green. Lord Green remarked: “I congratulate Closed Loop Recycling on its success in plastics purification and encouraging recycling – especially during the Olympics. I warmly welcome its expansion plans, which are an excellent reflection of the strength of the UK market for low-carbon and environmental goods and services.”
Speaking at the government’s British Business Embassy on Energy, Nick Clegg praised the renewable energy sector for “delivering vital investment and jobs to the UK”, and made public proposals by global engineering company, Groupotec, to increase UK ground and roof solar PV installations, and plans by Spanish organisation, Power Electronics, to open a UK headquarters in Reading next month.
Clegg also announced an initial £100 million funding contract between the UK Green Investments (UKGI) team (based in the Department for Business and Innovation) and Non-Domestic Energy Efficiency (NDEE) fund managers, Equitix and SDCL to encourage investment in non-domestic energy efficiency.
The summit’s focus on energy continues today (7 August). The global business conference is among 18 being organised by UK Trade & Investment throughout the course of the Olympic games.
For more information on upcoming conferences, visit the UK Trade & Investment website.