Closed Loop Partners Invests $2 Million in Reterra to Further Close the Loop on PET Plastic & Keep Valuable Materials in Play

By Closed Loop Partners

Mar 03, 2020

Using advanced recycling technologies, Reterra turns discards from the plastic recycling process into high-value intermediary products.

NEW YORK, March 3 — Today, Closed Loop Partners announces a $2 million investment in Reterra, a Houston-based advanced recycling company founded in 1999. Reterra’s technology turns waste byproduct streams of PET plastic that are produced during the recycling process into high value intermediary products. In doing so, Reterra creates a market for material that would otherwise typically end up in a landfill, while also improving the overall economics of PET recycling.

With 3-6% of material lost throughout the recycling process of PET, and the demand for recycled plastic set to grow, there is a significant and growing opportunity for recapturing the discarded material from PET recyclers. Thirty seven of the world’s largest brands and retailers have made public commitments to incorporate a specified amount of recycled content in their packaging within the next ten years. This demand creates the pull through the recycling system and sends signals to packaging suppliers and manufacturers to shift their supply chains in order to include more recycled content.

“Reterra’s advanced process serves a critical role in lowering the cost of PET recycling by capturing even the smallest discards of material and making a high value product from them. This solves a system-wide issue that will become increasingly important as the market for recycled plastics continues to grow,”

Ron Gonen, CEO of Closed Loop Partners.

Reterra’s innovative technology transforms the discards into a liquid intermediary that becomes useful feedstock for a number of different applications, thus turning waste into value. The investment from Closed Loop Partners will help finance the move into their recently-acquired new facility and upgrade equipment to increase capacity and meet new customer demands. The new plant will double capacity immediately, enabling them to increase processing to almost 100 million pounds of material annually within two years.

“For the last five years we’ve been operating at capacity, but with the help of Closed Loop Partners we are now able to take our business to the next level and capitalize on the growing market demand for our products,”

Jason Ball, President of Reterra.

The investment comes via Closed Loop Partners’ Infrastructure Fund, its first project finance fund. The fund is backed by the world’s largest brands and retailers and aims to build recycling and circular economy infrastructure across the United States to better recapture materials and get them back into manufacturing supply chains.

About Closed Loop Partners

Closed Loop Partners is a New York based investment firm comprised of venture capital, growth equity, private equity, project finance and an innovation center. The firm invests in the circular economy, a new economic model focused on a profitable and sustainable future. Investors include many of the world’s largest consumer goods companies and family offices interested in investments that provide strong financial returns and tangible social impact.

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