According to a press release from World Press Online, the UK Deputy Prime Minister Nick Clegg backs London Olympic legacy business Closed Loop Recycling’s expansion plans, which will double capacity at the East London plant, creating one of the most advanced plastics purification facility in the country.
Closed Loop Recycling was originally born out of the 2000 Sydney Olympics and established in 2008. Its expansion will lead to the creation of potentially hundreds of new jobs throughout the packaging and recycling industries.
Chris Dow, CEO of Closed Loop Recycling said, “We were in the original bid book which helped London win the Olympics back in 2005 and now seven years later we’ve got one of the best plastic-recycling facilities in the world right here in London. The Olympics can lay claim to stimulating development of some very high-tech infrastructure investment, winning gold medals on every front.”
The UK Trade and Investment Minister Lord Green added, “I congratulate Closed Loop Recycling on its success in plastics purification and encouraging recycling – especially during the Olympics. I warmly welcome its expansion plans, which are an excellent reflection of the strength of the UK market for low-carbon and environmental goods and services.”