Closed Loop Fund's First $20M of Investments in Recycling Infrastructure Demonstrates Recycling Makes Economic Sense For Cities And Industry this America Recycles Day
NEW YORK, Nov. 15, 2016 /PRNewswire/ -- Closed Loop Fund, an investment fund that finances recycling infrastructure and sustainable manufacturing technologies to advance the circular economy, released its first public progress report. Details reveal investment opportunities in the recycling industry that deliver environmental and financial returns for cities, companies, and private investors, despite the headwinds of low commodities prices.
According to Closed Loop Partners Managing Partner Ron Gonen, "The recycling industry is poised for a new phase of growth. Based on data from our first "live" investments, we are seeing municipalities and private companies – especially those with integrated models – generate savings, revenues, and profit as a result of improving recycling infrastructure. And so far, each investment is paying back as expected."
Lakeshore Recycling System's new Heartland single-stream facility launched in March 2016, is already generating a profit within its first 6 months, and is poised to divert more than 1 million tons of material from landfill by 2025. Lakeshore CEO Alan Handley says, "Recycling is core to our business. The success of the Heartland MRF illustrates our ability to increase both profitability and environmental impact as we scale."
The opportunities to generate environmental and economic return are real, but few traditional investors are getting on board at the moment. According to Jennifer Pryce, President & CEO, Calvert Social Investment Foundation, "Closed Loop Fund is helping impact investors like Calvert Foundation understand the investable opportunities within the circular economy."
Closed Loop Fund is just getting started and achieving scale is the biggest priority. "Closed Loop Fund investors have exhibited tremendous leadership in coming together to support a new model for systems change," said Gonen. "We are building the case for more consumer product companies, impact investors and institutional investors to capture the value of optimal recycling and circular systems in the United States by demonstrating these investments make financial sense."
For more, click on http://www.closedloopfund.com/impact/
About Closed Loop Fund
Founded in 2014, Closed Loop Fund is an investment fund that provides cities access to the capital required to build comprehensive recycling programs. Closed Loop Fund aims to invest $100 million by 2020 with the goal to create economic value for cities by increasing recycling rates in communities across America. Closed Loop Fund brings together the world's largest consumer product, retail, and financial companies committed to finding a national solution to divert waste from landfills into the recycling stream in order to be used in the manufacturing supply chain. Key supporters include 3M, Coca-Cola, Colgate-Palmolive, Goldman Sachs, Johnson & Johnson Family of Consumer Companies, Keurig Green Mountain, PepsiCo and the PepsiCo Foundation, Procter & Gamble, Unilever, Walmart and the Walmart Foundation.
CONTACT:
Bridget Croke
802-338-0368
[email protected]
SOURCE Closed Loop Fund
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