The Closed Loop London (CLL) plant in Dagenham is now expected to open in December 2007, offering reprocessing capacity for 35,000 tonnes of PET a year.
Initiated by CLL, the project has received private equity funding from Foresight Venture Partners and a banking facility from Allied Irish Bank, and is also supported by public sector funding from the London Development Agency and the Waste & Resources Action Programme.
CLL managing director Chris Dow said: The development of this facility is the realisation of a three year vision to close the loop on plastics recycling in the UK. We are delighted to be able to bring to the food packaging manufacturers a commercially viable and environmentally responsible option when specifying packaging. The UK will have a world class facility for processing its plastic waste and need not export this material for reprocessing into low grade applications.
Marks & Spencer is the first major retailer to commit to sending plastic waste from its London stores to the plant for recycling and plans to encourage its suppliers to source recycled PET from the plant to make M&S packaging. M&S chief executive Stuart Rose welcomed the new facility: Reducing the amount of waste from our stores and using more sustainable sources for our packaging is also one of the main aims of our new eco-plan, Plan A.
The plant will use patented technology developed by South Carolina-based United Resource Recovery Corporation to sort, granulate and super clean the recycled plastic bottles to produce a high quality raw material.