UK plastics recycler receives £5 million in funding

United Kingdom – The Foresight Group, a UK environmental investor, is funding a multi-site roll-out of plastics recycling facilities at 2K Manufacturing. The company will manufacture an environmentally-friendly plywood substitute for the construction industry. Under the £5 million funding package, the first facility will open during 2009.
Multiple award-winning EcoSheet is made from recycled waste plastics that would otherwise be destined for landfill; the product itself is also entirely recyclable. According to 2K, EcoSheet offers substantial environmental, commercial and operational benefits to its users, with the construction and signage industries being the main target markets.

2K has licensed use of the ground-breaking Powder Impression Moulding (PIM) technology, a patented process owned by ERT plc which allows the production of strengthened plastic composite forms using low-grade, co-mingled polymer material. This process essentially allows 2K to recover waste plastics for use in commercial applications. The licensing arrangement gives 2K exclusive rights to manufacture and sell these products within the EU, as well as first option over other main territories.

Andrew Page, the Foresight partner responsible for the firm’s investment in 2K Manufacturing, commented: ‘2K is one of a small group of leading companies in the field of waste plastic recycling, with its product addressing very large markets and offering a compelling proposition; cost savings and performance benefits as well as the obvious green credentials. The company has strong partners in the construction industry which give it a significant head start in capitalising on the opportunities which lie ahead.