Closed Loop progress report touts $25M in investments, new recycling projects
- The Closed Loop Fund has released a new progress report showing the effects of its $25 million investment in recycling infrastructure. According to the report, that money has now helped leverage $64.4 million in co-investment and provided $533,000 in economic benefits to municipalities.
- Since their last report six months ago, the Closed Loop Fund's effects on diversion and emissions have nearly doubled. Per the latest figures they have now assisted in diverting 98,500 tons of material for recycling and reduced 232,000 tons of greenhouse gas emissions.
- The 11 projects funded so far now cover 1.2 million people. Recent additions to the list include Aero Aggregates operation in Pennsylvania, which makes products from post-consumer glass, and the Emerald Coast Utilities Authority (ECUA) material recovery facility in Florida.
Since launching in 2014, the Closed Loop Fund has begun to attract more supporters and make exponential progress toward its goal of investing $100 million in recycling infrastructure by 2025. The pace of expansion since their last report in November 2016 shows that such an ambitious target may be more attainable than previously thought.
In some cases these investments can bring recycling access to areas that previously were lacking it, as was the case with ECUA in Florida, or improve the quality of existing operations as seen in the case of one Iowa county. The Closed Loop Fund's investment in Aero Aggregates also shows their interest in expanding collection opportunities and end markets for streams that may currently be seen as unprofitable in certain regions. Along those lines, the fund released an RFP earlier this year for MRFs seeking to capture more polypropylene from their streams.
With the Closed Loop Fund now delivering a steady stream of tangible results it also continues to draw interest from high-profile investors. Last month, Nestle Waters North America announced a $6 million investment with the goal of improving estimated national diversion rates and creating more economic opportunities.
- Closed Loop Fund Impact Report
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