Recycling Technologies has announced its intention to
proceed with an initial public offering to raise gross proceeds of up to £40m
on the Alternative Investment Market (AIM).
The Swindon company, whose innovative manufacturing process
can turn plastic packaging back into oil, expects admission to occur next
month.
Recycling Technologies’ RT7000 is a scalable patented
technology that recycles low-grade plastic waste into a feedstock, trademarked
as Plaxx, for new plastic production.
It enables the creation of value from plastic waste, which is today difficult to recycle through current mechanical recycling methods and is therefore disposed of through landfilling, incineration or exported.
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