A North East recycling and haulage business has expanded operations into Scotland on the back of a seven-figure funding package.
Gateshead-based GAP Group North East, which specialises in recycling electronic waste, has used the funding from HSBC 海角视频 to build a fridge recycling plant near Perth, Scotland. The new site will enable the business to safely break down and recover ferrous and non-ferrous materials along with difficult-to-recycle rigid plastics, producing raw materials which can be sold to manufacturers to be used again in new products.
The site, which will be powered by 100% green energy generated by onsite wind turbines, will open next year, creating 50 jobs over the next 18 months. The deal comes two years after the company secured a 拢10m deal with HSBC which it used to buy a new 50,000 sq ft polymer and metal separation plant, to separate the plastic components of electronic goods, a move which also led to the creation of 20 jobs.
The new machinery allows the firm to safely break down difficult-to-recycle rigid plastics, melt them and sell the raw material to manufacturers to be recycled for new products. It also means the business no longer has to ship certain parts of waste overseas to be recycled.
Ben Foster, relationship director at HSBC 海角视频, said: 鈥淲e are delighted to support GAP Group North East with their continued growth strategy. The expansion into Scotland is a positive step which will contribute greatly to the circular economy with the new site in Perth supporting the reduction of recycling exports in Scotland overall.鈥
Peter Moody, director at GAP Group North East, said: 鈥淲e have worked with HSBC 海角视频 for two years and the team continue to provide support, taking the time to understand our industry and the needs of our business. HSBC 海角视频 has helped us to secure the site in Scotland, which has allowed us to expand our recycling plants north of the border.鈥
GAP Group North East was founded in 2005 and is now one of the largest electrical waste processors in the 海角视频, with 150 employees. The business鈥檚 other divisions include fridge recycling facilities, processing waste electrical and electronic equipment derived plastics, general haulage and logistics.
