Sarepta, Louisiana-based IntegriCo Composites Inc., a leader in the composite industrial products manufacturing industry, has entered into a strategic partnership with Closed Loop Fund, New York, to fund comprehensive recycling infrastructure and to expand its strategic sourcing programs for recovered plastics.
Founded in 2007, IntegriCo manufactures composite railway products, including railway crossties and composite grade crossings. Using patented manufacturing technology, IntegriCo produces its products from 100 percent recycled plastics and has diverted more than 70 million pounds of plastics since its founding. Current IntegriCo clients include Union Pacific railway, the U.S. military through a multiyear contract with Rock Island Arsenal and continuing international shipments to support the infrastructure of Germany and Russia.
Closed Loop Fund Managing Partner Rob Kaplan says, "IntegriCo is turning what used to be a low-value bale of mixed plastics into a higher value infrastructure product, thereby improving the value of the recycling mix and ensuring that hard-to-recycle plastics don't end up in the landfill or in waterways. We see this investment as helping unlock an important economic bottleneck in the recycling system."
“The investment made by Closed Loop Fund in IntegriCo will enable immediate and continued expansion of IntegriCo’s operations within its new Sarepta Louisiana manufacturing facility,” says Scott Mack, IntegriCo CEO. “IntegriCo is rapidly expanding composite railroad tie manufacturing capacity based upon strong customer demand.
“The confidence in IntegriCo as displayed by Closed Loop Fund’s investment will enable IntegriCo to complete its second manufacturing line in Sarepta prior to the end of 2017, resulting in capacity of 250,000 rail crossties annually while consuming in excess of 65 million pounds of recycled plastics,” Mack continues. “This expansion will also permit the continued production of new products, including longer length rail ties and a recently redesigned composite grade crossing system. This is an important step with a great partner to continue execution of IntegriCo’s strategy to produce at least 1 million rail ties annually by the year 2020.”
Founded in 2014, Closed Loop Fund is a social impact investment fund that provides cities and companies access to the capital required to build comprehensive recycling programs. Closed Loop Fund aims to invest $100 million by 2020 with the goal to create economic value for cities by increasing recycling rates in communities across America. The organization brings together the world’s largest consumer product, retail and financial companies committed to finding a national solution to divert waste into the recycling stream for use in the manufacturing supply chain. Key supporters include 3M, Coca-Cola, Colgate-Palmolive, Goldman Sachs, Johnson & Johnson Family of Consumer Cos., Keurig Green Mountain, Nestlé Waters North America, PepsiCo and the PepsiCo Foundation, Procter & Gamble, Unilever, Walmart and the Walmart Foundation.