Press Release 05/01/2018
Northwest firm secures major investment to tackle waste plastics
North West based Lazarus Polymers Limited have taken a major step forward with their plans to introduce ground breaking new technology to improve recycling rates for waste plastic films and flexible packaging. With over 1.5 million tonnes of this problematic waste per annum heading for landfill or incineration this previously overlooked area of waste recycling is taking on more and more importance at a time when public attention is focussing keenly on the damage that plastic pollution is causing to the environment.
The firm, set up by three North West businessmen, have today secured investment funds of £750,000 through a mix of equity and term debt from private investors to install its first production line in the South East of England at a major industrial site, having won a five-year contract to handle plastics waste from the site. In a deal worth over £3,000,000, Lazarus Polymers will convert the waste plastics into a “Renewed Raw Material” for the manufacture of recycled plastic products. The firm will make exclusive use of technology developed by key partner Salvtech Limited and co-funded by the UK’s innovation agency, Innovate UK.
MD Gavin Lawrenson said “We’re thrilled to get this project off the ground, it’s the culmination of several years development. Once operational, we see this growing rapidly both on our first site and throughout the UK”. Gavin created the business in late 2016 together with fellow founders Martin Christmas and Andy Heath and have development facilities in Deeside and offices in Sandbach, Cheshire. The firm was advised by Neil Barton at Mazars LLP, Manchester and Mark Winthorpe at Pannone Corporate LLP.