Deal: Principal Investment + Angel Fundraise
Size: £10.7m Total Raise
Date: September 2013
Plasrecycle has built the UK’s first dedicated plant for recycling thin film plastics from both consumers (shopping bags) and industry (industrial packaging).
The plant recycles polyethylene bags and films to produce a clean plastic granulate that is used for manufacturing new bags and other products, thus replacing virgin materials. PlasRecycle’s first plant has been funded by an investment of £12 million and is located in South East London. Expansion is planned for 2015.
IBCP invested alongside a small group of specialist institutional investors and continues to advise the business with participation on the board.
For more information: www.plasrecycle.com