Pi Polymer Recycling

Perth & Kinross based Pi Polymer Recycling received a £50,000 loan from Business Loans Scotland (BLS) as part of a larger funding package to fit out their 15,500 ft² unit and launch phase one of the business.

The launch of Pi Polymer’s large rigid plastics recycling facility located within the Binn Eco Park in Glenfarg, Perthshire, aims to provide solutions for two key parties; those who wish to dispose of large rigid plastic waste, and plastic producers themselves. The challenges that these parties face include the separation of large rigid plastics and more specifically for plastic waste producers, the ability to have economically viable infrastructure in place to handle and recycle large rigid plastics.

With the UK alone consuming three to four million tonnes of plastic raw materials each year, there is an increasing demand for recyclates, which at the moment are largely latent. Using a near Infra-red Optical Sorting System (NIR) which will allow the plant to process rigid plastics for recycling and re-entry into the plastics market, which will ultimately replace "virgin" plastic production, the plants system is completely exclusive to the UK due to its development by Pi Polymer Recycling Director, John Ferguson.

Being at the forefront of new technology and ready to launch their first plant in Perthshire, the team at Pi Polymer Recycling required finance to raise working capital and begin the successful roll out of phase one of the business. Securing a £50,000 loan from Business Loans Scotland, as part of a much larger funding package ensured that John and his team were able to achieve these goals and launch the first of its kind large rigid plastics recycling facility in Scotland.

Supporting small and medium sized businesses across Scotland with loans to start-up or grow, BLS offer loans from £25,000 to £250,000 to ensure that commercially viable proposals do not fail from a lack of access to finance. Fully financed by the Scottish Government, BLS has issued loans to 130 businesses across Scotland to date totalling in excess of £9.7 million. 

Andrew Dickson, Fund Manager of Business Loans Scotland said:

“This is an incredibly exciting time for Pi Polymer Recycling. As a highly innovative recycling waste company with unique technology, they are leading the way in the recycling of large rigid plastics across Scotland. I am delighted that Business Loans Scotland has been able to become part of their journey and support the business in securing the funding required to get the Perthshire plant underway. I wish John and the whole team at Pi Polymer Recycling continued success for the future.”