Editing Innovate Recycle Ltd

==Summary==

Only 2% of the 400,000 tonnes of discarded carpets in the UK is recycled. The rest goes into landfill or incinerated. Innovate Recycle aims to build a new carpet recycling plant in Northamptonshire that, once it is complete, would be able to recycle carpet into reusable materials. It has already received a grant funding of up to £2.35m.

* UK carpet market est to expand at a rate of 3.3% between 2019 & 2025
* UK is one of the leading manufacturers & consumers for carpet in Europe.
* Burning waste carpet is est to have a CO2 impact of £16m p.a in the UK
* Circular economy: growing demand for recycled polypropylene.

==Idea==

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Of the circa 400,000 tonnes of waste carpet generated in the UK each year, around 44% is currently diverted from landfill. However, the bulk goes to incineration and shredding for outdoor equestrian flooring. Neither approach is true recycling. Carpets can contain more than 59+ toxic substances. As waste they are harmful to health, and CO2 is released when incinerated. In the end, only 2% is genuinely recycled. Reusable polypropylene within the carpet is lost to burning and shredding. This is a wasted opportunity.

With a developed business model, and the right technology partner, Innovate Recycle secured a grant of up to £2.35m to build our first plant, to be based at Chelveston Energy Park. We will use renewable energy from the adjacent energy park, and proven recycling technology from the US, which has recycled cir. 25m tonnes of carpet since 2015.

Growing demand for recycled polypropylene material has been confirmed by a leading recycled polymer distributor.

Post-funding, we plan that plant construction and testing will take 12 months to complete & be operational by month 13. Our calculations suggest one production line, at full capacity, can recycle up to 20,000 tonnes each year & generate 12,600 tonnes of polypropylene pellets. We plan to expand to a second production line by yr 4 at the same facility.

==Team==

Joseph Eccleston, Chief Executive Officer

Joseph has experience in the carpet & carpet recycling industries as an employee, director and founder. He's led Innovate Recycling through its R&D phase to find a UK solution to the recycling of post-consumer & industrial carpet. Partnership with a US technology company brings the project to point of commercial readiness, contributing to an emerging UK circular economy. Joseph also led on securing £2.35m of Local Enterprise Partnership funding.

Bob Woods MBE, Chairman

Founded wealth management specialist Mattioli Woods plc, with Ian Mattioli, in early 90’s taking the business from start-up to AIM listing. received an MBE in 2017, named AIM Entrepreneur of the year in 2007.

Duncan Pryke, Operations Manager:

Senior manager in waste management, logistics and processing with companies such as Veolia.

Dave Robertson, Project Manager:

Former project manager in construction & capital equipment manufacturing with companies such as Schindler & Atlas.

Phil Sayers, Non-Executive Director

Joined Grant Thornton in 2012 after 22 years with PWC, auditing and advising mid-tier companies.

Tim Bagshaw, Strategic Director (Part-Time)

Former Head of Governance & Operations of Cornwall Local Enterprise, He has helped companies forge close links and build productive relationships with the local and national government in the UK & attract new investment.