Recycling Technologies Appoints New Chairman and Investor Director

Swindon, 1st February 2017 – Recycling Technologies today announced new changes to its leadership board following a recent shareholder meeting. Howard Lack joins as the new Chairman bringing leadership experience within the commercial and finance sectors. Also joining the board is Geoffrey Phillips as Investor Director. Geoffrey has extensive experience in the oil, gas and marine sectors and has previously held a number of executive board appointments.

Howard spent thirty-five years in the commercial and finance industry holding prominent roles including Morgan Grenfell Bank as Director of the International Finance group before becoming the Director of Investment Banking for the Chase Manhattan Investment Bank. More recently Howard has focussed on funding technology start-up companies and is a senior consultant with Turquoise, a London based merchant bank specialising in energy efficiency and the environment.

Geoffrey has forty years of experience at senior level in both finance and commerce sectors. He has also held a number of board appointments as executive and non-executive director in public companies such as FastShip Atlantic, Abbot Group and Henry Ansbacher and Co Ltd. Geoffrey also has relevant board experience in the waste industry through appointments in Ledwood Mechanical Engineering Ltd and D.V. Howells Ltd.

Howard and Geoffrey’s invaluable commercial and finance experience, along with their knowledge of industry markets, will prove extremely beneficial to Recycling Technologies as it further develops the business and the RT7000, a machine incorporating a recycling chemical process which will be assembled on production lines then installed at Material Recovery Facilities [MRFs] around the world.

Adrian Griffiths, CEO, Recycling Technologies comments: “We are thrilled that such high calibre executives are joining the board. Geoffrey has a wealth of experience both in senior level public companies and in the waste industry. It is also a real honour to announce the appointment of Howard Lack as our new Chairman. Howard’s extensive experience in commercial finance will bring insight that will undoubtedly help the business as we forge ahead with our plans for 2017 and beyond.”

Howard Lack, Chairman, Recycling Technologies comments: “This is an important time for the company as we go forward into 2017. I am very excited to be part of this innovative organisation that is fast gaining recognition around the world. There is a tremendous opportunity to set our mark on the issues facing plastic waste and plastic in the ocean.”

Geoffrey Phillips, Investor Director, Recycling Technologies comments: “I am delighted to be joining the board here at Recycling Technologies. This is a pivotal time in the company’s evolution as we seek to secure interest and further funding for the commercial RT7000 machine. Recycling Technologies’ objective is to contribute to the creation of a circular economy for plastics, which ultimately could dramatically reduce the negative impacts of plastic waste.”

The potential for Recycling Technologies’ to contribute towards tackling the problem of plastic waste is being recognised across the industry. Recycling Technologies has been shortlisted for a number of awards and recently was specially selected to exhibit at leading trade show Innovate 2016. Recycling Technologies has also been included in an initiative called Unreasonable Impact – the first international network of accelerators focused on scaling up entrepreneurial solutions to pressing societal and environmental problems.

Recycling Technologies is also involved in the New Plastic Economy, an ambitious three-year initiative driven by the Ellen MacArthur Foundation to tackle global plastics issues, and together with partners is working to create a more effective global system for plastics. This month Recycling Technologies supported the action plan, laid out in a new report, The New Plastics Economy: Catalysing Action, which was launched by the World Economic Forum and the Ellen MacArthur Foundation at Davos. The report presents a pathway to increasing global recycling rates for plastic packaging from just 14% today to 70%.

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About Recycling Technologies

Recycling Technologies Ltd was founded in 2011 with the strategic goal of enabling the recycling of residual plastic waste. Recycling Technologies has since then produced one of the most significant developments in the world of plastics recycling by creating a unique chemical process which can help to solve the huge global environmental problem around disposing of plastic waste. Building on research initially from Warwick University the process expanded and enhanced so it could accept and recycle the bulk of municipal and commercial plastic waste streams directly and chemically turn it into a clean monomer feedstock - Plaxx®. As Recycling Technologies develops it is looking to work more with the plastics industry to ensure the future for plastics as a very valuable material whilst reducing the use of virgin fossil fuel stocks and preventing the current issues surrounding plastic waste streams. For further information, please visit www.recyclingtechnologies.co.uk

Media contacts:

Paula Elliott
Recycling Technologies Media Office
Tel: + 44 (0) 1189 497736
Email: paula@c8consulting.co.uk

Imtiaz Mufti
Recycling Technologies Media Office
Tel: +44 (0) 1189 497738
Email: imtiaz@c8consulting.co.uk