The Closed Loop Fund has invested approximately $20 million in nine projects to date. And all these projects combined have generated more than $50 million in co-investment from municipalities, banks and impact investors.
One of the projects, Lakeshore Recycling System’s Hartland, Conn., single stream recycling facility, has already generated a profit within its six months of opening and is expected to divert more than 1 million tons of material from landfill by 2025.
Environmental Leader has more:
Lakeshore Recycling System’s Heartland single-stream recycling facility is already generating a profit, just six months after opening, and is expected to divert more than 1 million tons of material from landfills by 2025, according to a Closed Loop Fund report.
The investment fund that finances recycling infrastructure and technologies announced its $1.5 million investment in Lakeshore Recycling Systems in March, bringing a material recovery facility to Chicago — the city’s first.
The Closed Loop Fund has amassed millions of dollars from leading companies including 3M, Coca-Cola, PepsiCo and Walmart and it invests in the form of low-interest loans to companies and zero-interest loans to cities. Its goal is to invest more than $500 million in US recycling projects by 2020.