Recycling Technologies announces a £1 million equity investment from InterChem
Summary
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 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. 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.