Falkirk-based Impact Recycling has raised a £3.3m follow-on investment from IW Capital to scale its business in current and new markets.
The plastic recycling company has developed patented technology for recovering high-purity recycled polymers from post-consumer waste.
With operational plants in Glasgow and Peterlee, the firm serves a growing base of UK and European clients across the healthcare, packaging and waste management sectors.
Its Glasgow site specialises in recycling medical plastic waste from the NHS, while its Peterlee site was recently expanded to include a facility capable of recycling flexible film packaging.
In November 2023, Impact Recycling received a grant from Innovate UK and a £7m loan from Nestlé, which supported the development of its pioneering recycling facility.
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LG Chem, the largest Korean chemical company, is also a shareholder with whom the business has signed a licence agreement.
The company will also use the new investment for business development.
“This investment marks a significant milestone in our journey,” said David Walsh, CEO of Impact Recycling. “With strong demand from global partners and our licensing model gaining traction, we’re well-positioned to scale our operations.
“We are thrilled to have IW Capital’s support as a partner as we develop the business and our market presence.”
Alan Armstrong, chairman of IW Capital and head of investment, added: “Impact Recycling exemplifies the kind of business we’re proud to support – deeply innovative, commercially proven, and playing a critical role in the future of sustainable materials.
“Their proprietary BOSS technology and strong customer traction make them a standout opportunity in a market undergoing rapid regulatory and consumer-driven change.”