Recycling Technologies, a Swindon-based manufacturer of recycling technology, is hoping to secure additional investment through crowdfunding to complete a demonstration machine.
The company builds machines that convert waste plastic into a form of crude oil called ‘Plaxx’.
It is hoping to secure £500,000 of investment through the Syndicate Room platform, offering an 11.58 per cent stake in the business in return.
Recycling Technologies plans to use the funding to complete a reference machine at a site owned by Swindon Borough Council to use for commercial demonstrations. It will also add to its current 15-strong team and file further patents.
It has already secured £125,000 of investment from a group of angel investors led by Barry Lingard.
Read more here.