Recresco, a Midlands, U.K., glass recycling company, has secured around £5.5 million in financing from a group of financial firms to allow it to open its fifth glass recycling facility in the U.K.

The money will go toward opening a glass recycling plant in Northfleet, Kent. The company also has glass recycling locations in Ellesmere Port, Southampton, Cwmbran and Nottingham.

Senior international commercial manager Andy Lewis led the deal from the South Devon and Cornwall commercial team.

"Recresco is a forward-thinking, ambitious company that has consistently re-invested its profits to ensure it stays innovative and relevant, says Stephen Hancock, HSBC South Devon and Cornwall area commercial director. "Trends in recycling change, such as the move from bottle banks to mixed recycling, but Recresco remains one step ahead."

Tim Gent, a director of Recresco, says, "The South East is a key market that we have been studying for a few years but now we feel is the right time to make the move."