Recycling Technologies Ltd, specialists in the chemical recycling of mixed plastic waste based in Swindon, England, has appointed Stephen Pascoe as finance director.
Prior to joining Recycling Technologies, Pascoe spent more than 20 years at the London-based multinational professional services firm PwC. His appointment comes at a time when Recycling Technologies says it prepares to raise additional finance to expand its operations.
Pascoe is a senior finance professional and fellow of the Institute of Chartered Accountants. He has worked with a range of organizations, from private businesses and private equity portfolio companies to large multinational and listed companies, in the U.K. and internationally. At PwC, Pascoe supported clients through a variety of business challenges, including restructuring, acquisitions, external funding and accounting framework changes.
According to Recycling Technologies, Pascoe will bring additional strategic financial and business expertise to the company as it executes its next phase of development in the U.K. and Northern Europe.
“I am delighted to join the company as it begins to execute plans to expand its operations and provide a valuable solution to recycle waste plastic in a financially attractive and responsible manner,” Pascoe says. “In a world where only 10 percent of plastic waste is recycled, Recycling Technologies is well-positioned to create significant value from plastic waste for its investors, customers and society in general.”
Recycling Technologies has developed and patented a plastics recycling machine called the RT7000 that can convert plastic waste back into oil, from which new plastics can be made. Due to the chemical nature of the recycling process, the RT7000 is able to recycle plastics currently considered unrecyclable such as plastic film, laminated food pouches and black plastics, the company says.
Adrian Griffiths, CEO, Recycling Technologies adds, “We are thrilled Stephen is joining the Recycling Technologies team as our Finance Director. His expertise will prove invaluable to help us implement our strategies for growth to become a leading plastics recycling company with world leading engineering expertise and technology.”