New Partnership Seek to Build 10 UK ecoPlants

A new partnership between Clean Planet Energy and private equity firm, Crossroads Real Estate, could see 10 new ecoPlants built across the UK.

These ecoPlants are green, advanced recycling facilities that are intended to process non-recyclable and hard-to-recycle waste plastics that would otherwise be sent to landfill.

Crossroads Real Estate has already announced funding for Clean Planet Energy’s flagship ecoPlant, which is currently under construction in Teesside, Northeast England.

This will be the first of 10 new ecoPlants that both organisations are jointly seeking to build and operate across the UK.

In a statement, David Gillerman, Founding Partner and CEO of Crossroads Real Estate discussed their reasoning for joining the project.

He said, “At Crossroads, we are committed to green opportunities and impact investing as demonstrated already through our sustainable hotels strategy.

“We look forward to partnering with Clean Planet Energy to roll out ecoPlants across the UK, including the flagship ecoPlant already under construction in Teesside.”

Bertie Stephens, Group CEO of Clean Planet Energy, was keen to welcome Crossroads Real Estate on-board. He said: “Having Crossroads Real Estate join us, not just for the development of potentially 10 new UK ecoPlant projects, but also for the construction of the current Teesside ecoPlant, means in Crossroads we have a partner who, like us, is focussed on making a sustainable difference with its investments”.

Each ecoPlant is designed to accept 20,000 tonnes of plastics each year.

This waste is then converted into low sulphur fuels to replace fossil fuels in the transport and heavy-machinery sectors, and petrochemical feedstocks, including naphtha, which can be used to make new plastic products without the need to use fossil-based feedstocks.

Potential sites for future ecoPlants include Lincolnshire, Gloucestershire, Lancashire and South Wales.