Chicago MRF receives US$ 1.5 million funding

United States – The US Closed Loop Fund has invested US$ 1.5 million in Chicago-based Lakeshore Recycling Systems. The move is part of a larger plan to finance US$ 500 million worth of recycling projects nationwide by 2020.

Lakeshore’s new venture represents the city’s first-ever materials recycling facility and comprises an US$ 8.5 million Machinex system capable of sorting, separating and processing more than 20 tonnes of high-grade residential and commercial single-stream recyclables per hour.

Materials to be treated include aluminium, cardboard, ferrous, steel, paper, plastic packaging and Styrofoam.

Illinois-based Lakeshore currently operates six material recovery facilities in the USA, processing a total of 2 million tonnes of recyclables per year.

The Closed Loop Fund has received millions of dollars of backing from big brands such as Goldman Sachs, Unilever, Coca-Cola and Procter & Gamble.