The European Investment Bank (EIB) has signed a EUR 40 million loan agreement with recycling company Renewi to invest in recycling in the Netherlands and Belgium.
The funding will be divided between three key projects. The first is the construction of three new high-tech sorting lines for residual, commercial and industrial waste in Flanders, Belgium, allowing more materials to be recovered and recycled, and reducing the amount of incinerated waste.
Additionally, Renewi is constructing a new rigid plastics sorting facility in Acht, the Netherlands, that will produce high-quality secondary plastics. Lastly, the company will upgrade of one of its existing anaerobic digestion plants in the Netherlands, in which microorganisms break down biodegradable material in the absence of oxygen to create biogas.
Regarding the new sorting sites, the EIB loan will help increase the recovery and recycling rate of treated materials. In particular, the new rigid plastic sorting facility will enable more plastics to be separated and allow Renewi to extract higher quality secondary raw materials, for which market demand is growing.
‘Renewi is delighted to have the EIB’s endorsement in support of these investments in critical green infrastructure in the Netherlands and Belgium,’ says Annemieke den Otter, chief financial officer at Renewi. ‘We are ambitious to support this accelerating transition through continued investment and innovation as the waste-to-product partner of choice across the European Union, and we hope to expand our cooperation with the EIB over time.’
‘Waste treatment and disposal play an increasingly important role in limiting our emissions and the use of raw materials, meaning there is a strong case for managing them as efficiently as possible,’ comments EIB vice president Kris Peeters. ‘I’m delighted that the EIB can support Renewi in its overall mission of giving new life to used materials, while also allowing it to increase the sustainability of its operations.’