The Israel Innovation Authority has approved the establishment of a new group—the CIRCLE consortium—to promote the development of new plastics recycling technologies.

The consortium, which is expected to receive an $8.6 million investment, is projected to help companies in the recycling sector, plastic and polymer manufacturers and academic and research institutions to develop new technologies to boost industry in Israel.

The Jewish News Syndicate reports that the consortium aims to leverage “Israel’s academic and industrial capabilities to close the existing technological gap and situate Israel’s plastics industry as a leader in the field of plastic waste management.”

Jewish News Syndicate has more information:

The Israel Innovation Authority has approved the establishment of a new consortium aimed at promoting the development of recycling technologies and the use of recycled materials in Israel’s plastics industry.

Set to receive an investment of NIS 30 million (around $8,600,000), the CIRCLE consortium will enable companies in the recycling sector, plastic and polymer manufacturers, as well as academic and research institutes in the field to develop innovative technologies to give Israeli industry an edge in international markets. The technologies developed by the consortium will allow for the expansion of the range of recycled materials and their applications.

Read the full article here.