PVC Recycling secure £500k investment for expansion

Chesire-based PVC Recycling has secured £500k investment to expand its operation.

Owners Ian and Joanne Murray secured the funding from The North West Fund for Energy & Environmental and plan to use it to establish satellite depots across the UK and increase exports to Europe.

The growth will also double the workforce at PVC over the next 12 months. The firm use waste materials, typically from demolished housing, to manufacture PVC.

Although this can be a complex procedure, the company is successfully mass-processing the waste so it is fit to reuse in manufacturing, while reducing the carbon footprint by 94% when compared to non-recycled PVC.

Ian Murray, managing director at PVC Recycling, said: “We’ve established a great working relationship with the team at 350 IP and the funding will allow us to get underway with our exciting growth plans. We are experiencing an increase in demand from different parts of Europe for our recycled products. The funding will enable us to reach out to those markets and take on new staff as the business continues to expand.”

Michael Bakewell, investment director at 350 IP, which manages The North West Fund for Energy & Environmental, will join the board of the company as a non-executive director.

Bakewell said: “This is an exciting new investment for us and we can see the huge opportunities in the recycled PVC market in the UK and internationally. Not only does the recycled PVC reduce our carbon footprint, it is much cheaper than virgin PVC while offering the same performance levels.

“The company has spotted a huge gap in the European and wider global market, especially following the uptick in availability of the product. We look forward to working with the company as it enters a crucial stage of growth.”

The North West Fund for Energu & Environmental is jointly financed by the European Investment Bank and the European Regional Development Fund.