Recycling Technologies envisages a world where all plastic waste is recycled. They have developed a machine, the RT7000, to recycle plastics in a more commercially attractive way. RT7000 turns plastic waste into a product they call Plaxx®, for use in processes for making new plastic and wax products.
Plastic is a ubiquitous and versatile material. However, when plastic becomes waste, only c.12% is recycled. The rest is buried, burnt or lost in our environment. With demand for plastic expected to double in twenty years, the need to increase plastic recycling capacity is urgent.
Our patented RT7000 machine is designed to recycle a wide range of plastics, even those commonly considered unrecyclable - crisps packets, films, food pouches & food trays. Our output product Plaxx®, is a valuable raw material for use in processes for making new plastic and wax products.
The support of Crowdcube investors in our first round in April was overwhelming, attracting £3.7M from the crowd, existing investors and InterChem, who invested £1M. It funded upgrades to the pre-production plant at Swindon, enabled us to build the team to run 24/5 and secure assembly premises.
Proceeds from the current round will be used to procure RT7000 parts, develop the Binn Ecopark site, expand the team and run the Beta Plant 24/7. Our goal is to install 1300 RT7000s by 2027, producing 7 million tonnes (Mt) of Plaxx® annually from 10Mt of plastic recycling capacity – this is >3 times Europe’s entire recycling capacity today.
Your plastic footprint for life is the same as c.£60 worth of recycling capacity in RT7000.
There’s no time to waste. As Sir David Attenborough said, ‘The future of humanity depends on us’