£6.5 million Circular Economy Fund launches to increase the use of recycled materials

Deputy Minister for Housing and Local Government Hannah Blythyn is to launch a new £6.5 million Welsh Government Circular Economy Fund with a visit to leading packaging manufacturer Klöckner Pentaplast, which specialises in using recycled content in its plastics and has pledged to maximise the use of sustainable materials.

The Circular Economy Fund will help Wales to reach the milestones of 70 per cent recycling by 2025, and 100 per cent by 2050, as set out in the Welsh Government’s Towards Zero Waste waste strategy.

The £6.5 million fund will offer grants to businesses of any size seeking capital investment funding to increase its use of recycled materials in manufactured products, components or packaging.

WRAP Cymru will administer the fund on behalf of the Welsh Government.

Blythyn said: “Wales in on a journey towards becoming a circular economy, which means making more of the products we consume and recycling as much waste as possible. Klöcker Pentaplast are an example of how recycled material can be used to create a successful product, while benefitting our environment and stimulating demand for recycled material.”

“Our fund will help to cover some of the costs of investing in new equipment and infrastructure, increasing the use of recycled materials in Welsh manufacturing. We know this has the potential to bring significant cost savings as well as helping businesses to reduce their carbon footprint,”

“increased use of recycled material provides economic opportunities. It also helps create and protect jobs by making Welsh manufacturing companies more resource efficient and resilient in terms of the security of supply of raw materials.”

“I want to encourage manufacturers across Wales to take a look at the WRAP Cymru website on the Circular Economy Fund and consider the opportunities we can offer them.”

“In Wales we recycle more than anywhere else in the UK and we are within touching distance of being the world’s top recycling nation. I want us to go even further towards a truly circular economy.”