Green-tech innovator bolsters growth ambitions via £2.65m investment

IW Capital, a London based private equity house, has today announced a £2.65m second round investment in Impact Recycling, having initially backed the green-tech innovator with £2m in 2019.

The most recent injection of capital is aimed at accelerating growth and finishing a new operational site in Bellshill, Glasgow. IW has now invested over £120m in UK SMEs, helping to drive business growth across the country whilst amassing a highly impressive and sector-agnostic portfolio.

In 2020 alone, revenue from the recycling and waste management industry totalled £21.2bn, clearly illustrating the high-value potential in this sector.

Impact Recycling is an “innovative” Scottish company that has developed a “breakthrough” recycling technology, enabling previously difficult or impossible types of plastics to be recycled.

The firm’s unique innovation reportedly bears a profound impact on reducing how much the nation wastes, this was over 222.2 million tonnes in 2018, resulting in an “unquestionably positive effect on the environment”.

IW Capital’s initial 2019 investment into Impact Recycling was targeted at developing its BOSS technology and developing two sites in Newcastle, which are now successfully in operation.

In addition to the total investment of £4.65m from IW Capital, Impact Recycling has also received significant grant funding, targeted at the development and completion of the new Glasgow site.

Once completed, their new Bellshill hub is also expected to bring a number of new jobs to the area, whilst helping to drive the company’s highly impressive pace of growth.

David Walsh, CEO of Impact Recycling, commented: “In the time we have been working with IW Capital since 2019 we have come to know them as a trusted, reliable investor that have enabled us to expand our business and continue with our innovations in the plastic recycling sector. We look forward with confidence to a lasting relationship.”

Luke Davis, CEO & founder of IW Capital, added: “With green technology and protecting the environment becoming some of the most important focuses for economies all over the world, we see real potential to help Impact Recycling grow and deliver much-needed services in the UK and potentially even further afield.

“We share their vision in terms of revolutionising the way we recycle and are very happy to be able to help on this exciting and rewarding journey.”