Alternative Waste Solutions, a large UK-based plastic recycling company, has secured an additional £6.1 million equity investment (US$12 million) as part of an overall £14 million project spend.
The money is expected to allow the company to accelerate the expansion of its plastic bottle recycling plant in Lincolnshire in response to increased demand.
AWS raised the month from both its existing investor, E-Synergy; and new investors Robeco Asset Management, which represents three private equity funds; and two private individuals.
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The investment will allow the company to expand its plant capacity from 25,000 metric tons a year to 100,000 metric tons a year.
Sintons LLP’s Commercial Group advised on the transaction which also involved due diligence work by AWS’s auditors, KPMG.
Jonathan Short, managing director of AWS, commented: "This further investment provides additional capital to assist with the growth of AWS and allow it to take advantage of a rapidly developing market.
"AWS's operation within the UK, currently comprising 50 employees, continues to grow and this growth is also reflected in our sales office in Hong Kong."