The Circular Plastics Australia recycling facility near Albury-Wodonga will receive up to $16.5 million through a Clean Energy Finance Corporation (CEFC) investment.
This is the first investment under the Australian Government’s Australian Recycling Investment Fund.
Circular Plastics Australia’s polyethylene terephthalate (PET) facility will recycle the equivalent of one billion plastic bottles each year. This will be converted into more than 20,000 tonnes of new PET bottles and food packaging.
Construction of the facility is well under way, with the plant to be part-powered by solar panels.
Better waste management is a central element in Australia’s transition to a low emissions economy. It has great potential to reduce emissions by cutting the amount of waste that goes to landfill.
The Australian Government is also supporting recycling and clean energy projects under the $1.3 billion Modern Manufacturing Initiative.
[photo source: CEFC]