News: Sterecycle launches £200m expansion

Sterecycle Ltd, a leading UK waste recycling technology company has announced a £200 million expansion programme that will create 300 new jobs while reducing Britain's dependence on landfill for the disposal of domestic and commercial refuse.

As part of the expansion programme, the Company is raising £50 million in new equity capital from institutional investors and has appointed UBS as financial adviser.

The expansion follows the successful ramp-up of processing capacity at Sterecycle's initial autoclave waste recycling plant in Rotherham - the world's first commercial-scale facility that applies steam to separate and recycle unsorted household waste.

This pioneering plant, built on a former steelworks at Templeborough, commenced operations last June. Its capacity is being increased up to 200,000 tonnes a year, following a successful planning application in January 2009.

Using proprietary technology, Sterecycle's recycling plant is able to divert 70% of residual waste away from landfill, converting unsorted household waste into a variety of reusable materials and an organic compost-like material.

Duncan Grierson, Chief Executive and Founder of Sterecycle, said: "We are delighted to announce a bold growth strategy as local authorities increasingly seek innovative solutions to reduce landfill use for disposing of unsorted waste.

"The investment will increase our total number of plants to six and will create 300 new jobs across Britain. The fact that we are raising £50 million in a tough economic climate is a reflection of our confidence in Sterecycle's novel technology and long-term prospects."

Sterecycle website
Rotherham

Images: Sterecycle