ReNew ELP, an Armstrong-backed EIS company, has been awarded a £4.42m grant from Innovate UK, the UK’s innovation agency.
The grant will go towards helping ReNew ELP build the world’s first commercial-scale recycling plant using Cat-HTR™ technology. Focusing on the UK Government’s priority to drive economic growth through new technology, the award comes through the Industrial Strategy Challenge Fund’s Smart Sustainable Plastic Packaging programme. It recognises the commercial-scale feasibility of the technology and potential of the advanced recycling sector to help meet ambitious plastic recycling targets. The grant will aid ReNew ELP in the construction of the initial plant, which commences build in Q1 2021, and will see c. 80,000 tonnes of waste plastic recycled annually upon completion.
ReNew ELP’s Managing Director, Richard Daley, commented: “The grant award demonstrates that we are in line with Government Policy and its drive towards achieving increased recycling targets in the UK. It will increase investor confidence, help innovative technologies such as ours break through and establish the Advanced Recycling Industry in the UK, helping ReNew ELP to emerge as a global leader in plastic recycling.
To read more about ReNew ELP please visit: https://renewelp.co.uk/