UKRAINIAN PLASTIC RECYCLING COMPANIES TO RECEIVE FUNDING
As an experienced strategic recycler, Recycling Solutions offers investments starting from $2 million to owners of plastic recycling companies
Recycling Solutions—a Ukrainian company which exports raw materials made of recycled by-products and waste generated by Ukrainian manufacturers and invests in sustainable development projects—has begun to seek partners in a new field, namely reworked plastics. It will invest from $2 million in polymer recycling companies and projects.
In 2018, 20% of all plastic was recycled worldwide, while it was 32.5% in the EU and only 12.5% in Ukraine. According to the current EU directives, starting from 2025, PET bottles have to contain 25% recycled plastic, while starting from 2030, all plastic bottles are to be made with 30% recycled plastic. In addition, the European Plastics Pact, which is an important step towards building the circular economy for plastic and the first supranational initiative, stipulates that, on average, at least 30% of recycled plastic must be used in disposable plastic products and packaging by 2025. Fifteen governments and 66 companies have joined this Pact so far. From 2019 to 2027, the plastic recycling market is expected to grow annually by 6.6% in terms of profit and 8.8% in terms of volume. Our country has already started taking steps to implement extended producer responsibility. The level of municipal waste sorting is gradually increasing. Such changes lay the foundation for the existing Ukrainian companies to expand their manufacturing capacity and enter the global recycled plastic market.
‘We are seeking partners who share our company’s values and strive to build a sustainable country. By combining the Recycling Solutions’ experience in adding value to recycled products and the partners’ expertise, we are going to help further develop the plastic recycling industry in Ukraine and switch to a sustainable circular economy’, said Dmytro Anufriev, CEO at Recycling Solutions.
The companies that recycle all types of thermoplastics into finished products or intermediates, such as flakes, granules, and fibre, will receive funding. It is important that companies are operating at the time they obtain the funding from Recycling Solutions, namely their EBITDA is at least $2 million, while the capital investment is $2 million or more.