A £17.1m funding package for a 80,000 tonnes capacity plastics recycling plant has been secured by a partnership of European Metals Recycling and MBA Polymers. The Royal Bank of Scotland provided the money for the joint venture, MBA Polymers UK, to support the purchase and development of the site in Worksop, Nottingham.
Work on the plant has started with completion expected in early 2010. The plant will specialise in recovering plastics from upgraded shredder residue, which is a complex plastics-rich material left over from recycling cars and consumer electrical goods.
There is plenty of feedstock available for the plant as estimates quoted by RBS suggest that more than 12 million tonnes of plastics from just end-of-life vehicles and electrical and electronics equipment are disposed of each year world-wide.
Plastics from this type of feedstock are often landfilled or incinerated because it is considered too complicated or expensive to recover them.
MBA founder and president Michael Biddle said: The MBA Polymers UK facility is an exciting development, as it expands our companys global ability to deliver high quality resins from recycled plastic with a very small carbon footprint. With this expansion we are furthering our companys goal of providing high-performance sustainable plastics on a global scale so that manufacturers can meet the consumer imperative for greater sustainability and environmental responsibility.