UK packaging compliance scheme Ecosurety has agreed to buy PRNs which are expected to be produced from Recycling Technologies’ plastics reprocessing machines in the future.
The deal is estimated by Recycling Technologies to be worth £3.2 million over three years although the number of PRNs and actual value involved have not been disclosed.
The company currently has one pilot plant in Swindon
The company is already receiving public investment into its proposed plant at Binn Farm in Scotland and the PRN mechanism is a separate route to infrastructure and operation support for reprocessors. Recycling Technologies is not yet processing material but hopes to during 2018.
Ecosurety said that securing a fixed price PRN through Recycling Technologies means it will be able to pass on to its 1,000 customers, creating “more stability into the recycling market”.
“For producers who are obliged to purchase tens of thousands of PRN’s each year, it offers security of price without compromising on environmental integrity,” the joint statement said.
Recycling Technologies is the company behind a machine which it says can turn a range of plastics back into oil or wax. Its goal is to double the current UK recycling capacity by installing 50 machines UK wide, starting in Scotland.
Currently, Recycling Technologies has one pilot plant in Swindon. It recently announced planning approval for its first plastic-to-oil RT7000 machine in Binn Eco Park, Scotland. Capable of recycling 7,000 tonnes p.a.. The company says its machine will be running there from mid-2019.
The company says its goal is to “double the current UK recycling capacity by installing 50 machines UK wide, starting in Scotland”.
Recycling capacity
James Piper, managing director of Ecosurety, said the partnership aligns with Ecosurety’s “long-standing business objectives”.
“There is an urgent need for more plastic recycling capacity in the UK so that we can ensure high levels of transparency in this sector. Working together with Recycling Technologies, Ecosurety is improving the potential capacity of our existing recycling market.”
Mr Piper added: “This partnership is hugely exciting and aligns with our long-standing business objectives; to help provide the highest level of transparency and best price for our customers’ recycling solutions”.
Significant value
Adrian Griffiths, chief executive of Recycling Technologies noted: “Our chemical approach to recycling residual plastics means PRN certificates from Recycling Technologies will be of significant value to Ecosurety’s retail and FMCG customers looking to invest in building the domestic recycling infrastructure.”
Previously, in an interview with letsrecycle.com, the company criticised the fact that it was yet to receive any funding from the sector to “boost innovation (see letsrecycle.com story).
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Source: letsrecycle.com Plastic
