Material Focus sees full repayment of Covid e-waste treatment loans
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ShareMaterial Focus, the non-profit behind the Recycle Your Electricals campaign, has seen the successful repayment of nearly £2 million in loans made to electrical waste treatment facilities during the COVID-19 pandemic.
The interest-free loans targeted 14 commercial electrical waste facilities at a time when household waste recycling centres were closing and e-waste collection was falling dramatically – bringing cash flow down and threatening the continued operation of these businesses.
Material Focus says that the repayments are a sign of the ‘resilience’ of the electrical waste industry.
Scott Butler, Executive Director of Material Focus said: “The prompt repayment of these loans is a testament to the resilience and adaptability of the electrical waste treatment facilities, which persevered despite the many challenges presented by the Covid pandemic. We are delighted that the loans helped these facilities to continue operating.”
Phil Conran, Chairman of the Approved Authorised Treatment Facility (AATF) Forum, also welcomed the news: “The AATF sector was grateful for the financial support that the loans provided. The dramatic fall in waste electrical and electronic equipment (WEEE) collection volumes during Covid led to many AATFs suffering cash flow concerns that put their futures at risk.
“The availability of the Compliance Fee loans provided significant financial stability at this difficult time that helped to protect employment and ensure that the UK retained the high quality treatment capacity needed as normality returned.”
On top of the loan payments, Material Focus gave out nearly £500,000 in grants to 34 charities supporting electrical reuse. The grants, processed through the Reuse Network, aimed to empower charities to meet the rising demand for refurbished household appliances while lockdown and self-isolation measures were in effect.
Craig Anderson, CEO of the Reuse Network said: “During the Covid crisis, reuse charities were having to work in new and creative ways to respond to the needs of their communities.
“Although high street retail had to close their doors, the demand for an emergency supply of refurbished household appliances for frontline staff and people being rehoused was urgent and increased throughout the two years of COVID-19.
“The £500,000 WEEE funding from Material Focus helped stabilise the WEEE Reuse charity sector, but also meant they were able to reopen at strength to process and supply electricals to those most affected by COVID-19, self-isolation, and lockdown.”
Material Focus, who recently launched another £2.5 million fund to help develop e-waste recycling infrastructure, hope that by providing such financial support they can ‘continue to promote sustainability and a circular economy for electricals in the UK.’
