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Mega-fund to boost plastics recycling in the USA

United States – Claimed to be ‘one of the largest of its kind’ in the USA, a new Closed Loop Fund initiative aims to boost plastics recycling with the help of US$ 100 million from corporate giants like Walmart, Goldman Sachs and Coca-Cola.

According to Fortune.com, a major, high-tech recycling plant in Baltimore could be sorting 54 000 tonnes of plastic scrap by this time next year – including yogurt cups, milk cartons and plastic soda bottles – in servicing an area within a 500-mile radius across the US East Coast.

Over 10 years, organisers of the Closed Loop Fund expect a total of three projects to divert ‘half a million tonnes’ of scrap from landfill.

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