The firm, based in Dagenham, secured the financial backing in order to double its capacity, securing 100 jobs and becoming the first facility of its kind in the the world. It is the only plastic bottle recycling plant to recycle both PETand HDPE bottles.
Congratulating the facility on its success in plastics purification, the Deputy Prime Minister said: “I warmly welcome [Closed Loop Recycling's] expansion plans, which are an excellent reflection of the strength of the UK market for low-carbon and environmental goods and services.”
Managing director of the company Chris Dow said that the money would fund brand new state of the art machinery and equipment, which is expected to be operational by Autumn 2013.
The Department for Business, Innovation and Skills also announced that Spanish engineering firm Grupotec is to expand its Richmond office in order to support new UK ground and roof solar PV installations.
Another foreign firm to set up shop in the UK is Power Electronics, a multinational Spanish company specialising in solar power. The company will place at least 3 technical engineers and a sales manager in the UK, but said it has plans to grow this number significantly.
For more information or help with your company’s recycling or waste needs visit www.zwtl.net.