Grundon Waste Management has completed the redevelopment of its MRF in Colnbrook, Berkshire, which was destroyed by a fire in May 2009, following a £4.2m funding package.
Thought to cost around £7m to build, the new facility can sort 150,000 tonnes of materials each year and is located within the refurbished original building, adjacent to Grundon’s Lakeside energy-from-waste facility
The MRF, which is currently taking waste, is fitted with seven Redwave near-infrared spectroscopy auto sorters, which use infrared technology to sort, identify and extract plastics, glass, paper or cardboard. It can even extract difficult to handle materials such as Tetra Pak cartons or plastic film.
Currently in the commissioning stage, the MRF was backed by a five-year hire purchase facility from Lloyds Bank Corporate Markets. It is the first time Lloyds Bank has provided funding for a complete MRF installation.
Grundon financial director Clayton Sullivan-Webb said: “It became clear that it would be beneficial to look further than our legacy banking partners when it came to refinancing our investment in the MRF. In the aftermath of the financial crisis, it is important for companies such as our own to get the fundamentals right, and we were very pleased to find that Lloyds Bank offered a sound funding base at market-competitive rates.”
David Squire, relationship director, Lloyds Bank Corporate Markets, added: “We were impressed with the company’s track record, business principles and commitment to the environment.”