The group of organisations promoting reuse across London will receive a new boost from the London Waste and Recycling Board (Lwarb) after exceeding its targets.
Lwarb will invest an additional £1.25m in the London Re-use Network (LRN) to help the organisation grow and boost its retail presence.
The funding will be made up of a £100,000 loan and a £1.15m revenue participation agreement.
Charles Craft, managing director at LRN, said: “Having established key infrastructure improvements, the [new] investment will now allow the network to grow its services throughout the capital and provide a greater diversity of benefits to Londoners whilst achieving environmental and social benefits for all.”
Lwarb said that the organisation has exceeded its reuse and recycling targets for three consecutive years. The LRN was set up in 2010 with £4.3m support from Lwarb.
According to an infrastructure plan for London published in July, the capital could host as many as 40 more new facilities for the reuse, repair and remanufacture of materials.
Matthew Pencharz, the Mayor of London’s senior advisor for environment and energy and Lwarb member said: “With London’s population increasing by over 100,000 a year and commodity prices likely only to go up, London needs to become more resource efficient.
“Lwarb’s investment into the London Reuse Network will divert thousands of tonnes of material that would otherwise be disposed of, saving Londoners money and carbon, and illustrating the value of a circular economy.”
LRN claims it has helped divert over 5,000 pieces of household furniture from landfill.