A recycling firm has received a funding boost to support the construction of a plant for recycling incinerator bottom ash (IBA) from energy-from-waste (EfW) facilities.
Business Growth Fund (BGF) provided £5m of equity capital and NatWest provided a further £5m debt facility to East Midlands-based Johnsons Aggregates & Recycling.
The money will go towards its £11m facility on a seven-acre site in Stanton, Derbyshire, which is expected to be fully operational by early 2017.
The facility will triple the company’s current capacity of around 150,000 tonnes of IBA a year to 450,000 tonnes.
Founded as an aggregates business by chief executive Steve Johnson in 1999, the business will also use the funding to support growth across its other services, which include the supply of recycled roadstone, fill material, sands and pipe bedding.
Jon Earl, who led the transaction for BGF, and Paul Capell, an experienced industry executive, have both joined the board.
The company, which employs 50 people at its existing facilities, achieved annual revenues of £11m in 2015.
Johnsons extracts metals from the IBA and turns the residue into an aggregate suitable for the construction industry.
In May, EfW operators across Europe backed a call to count metals recovered from IBA towards recycling targets.
Former resource minister Rory Stewart supported this, and in March praised a trade deal between the UK and the Netherlands to transfer IBA.
- Pictured from left: Lewis Johnson (Johnsons business development director), Sir Nigel Rudd (BGF chairman), Steve Johnson (Johnsons chief executive), Gavin Petken (BGF regional director), Phil Wood (Johnsons financial director), Earl