Origo Partners Plc announced an investment of up to $6.65 million for a 20 percent equity stake in Jinan Eco-Energy Technology Co. Ltd, a Chinese provider and operator of recycling systems for waste plastic and scrap-tires.
Origo Partners' investment in Eco-Energy would be held through Achieve Stars Development Ltd, a special purpose holding vehicle.
Origo said at a minimum, it expects recycling plants based on Eco-Energy’s technology will process more than 100,000 metric tons of scrap tires and waste plastic per year by the end of next year.
One report notes that Eco-Energy has already secured orders from customers in Europe, South East Asia and China for the delivery later this year and next for recycling systems with an aggregate annual processing capacity of 90,000 metric tons of tire and plastic residue.