Neste and Mirova back Recycling Technologies with EUR 10 million investment

Today we are very excited to announce that Neste, a world-leading provider of renewable diesel and named the world’s third most sustainable company, and Mirova, an impact investor in the natural capital space, have invested a combined EUR 10 million in Recycling Technologies Ltd to accelerate the development of feedstock recycling.

The official press release is now live on our website here. This investment provides the capital to complete the build and installation of our first commercial machine in Binn Ecopark in Scotland, as a launch-pad for future sites.

In addition, Neste and Recycling Technologies sign a joint technology development agreement and Plaxx® (our primary output oil) off-take agreement. We know that change is not achieved without collaboration and we are hugely grateful for your support and the support of all our academic, commercial and funding partners.  We look forward to continuing the important journey to increasing recycling capacity together with industry and stakeholders.

As Adrian Griffiths, CEO points out in his statement “ one of our goals is to help the UK Plastic Pact meet its 2025 target for 30% recycled average content across all plastic packaging. This can be achieved by combining existing mechanical technology and new scalable chemical recycling capacity.”