North West Fund sorts £500k PVC Recycling deal

The funding will be used to boost the company's current activities as well as develop further satellite depots across the UK. The company will also look to export into Europe. Furthermore, the fresh capital will aid plans to hire 10 more people over the next 12 months.

The North West Fund for Energy & Environmental is financed by the European Investment Bank and the European Regional Development Fund, and managed by 350 Investment Partners (350 IP).

Company
Based in Greater Manchester, PVC Recycling was founded by Ian and Joanne Murray in 2007. The company develops processes for recycling PVC. The business uses waste materials, often from demolished buildings, as its key source of PVC. The disused plastic is then recycled so that it is fit for use in manufacturing.

When compared with using non-recycled PVC, the use of recycled PVC is believed to reduce one's carbon footprint by 94%.

People
Ian Murray is managing director of PVC Recycling. Michael Bakewell is investment director at 350 IP and will join the company's board as non-executive director.

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