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Close Brothers Asset Finance helps Orthios with a CBILS asset finance facility

Who?

Orthios is one of the UK’s most innovative waste and recycling firms, revolutionising the way in which waste is treated. They are inventing and adopting new technologies to convert what is currently dumped as useless rubbish into fuels, heat and by-products which will help to bring about a cleaner, greener, more sustainable future.

What?

A £1.2m Coronavirus Business Interruption Loan Scheme (CBILS) backed facility with a further significant facility planned.

Where? (are they based)

The Orthios team is based in Holyhead, Anglesey, and are currently transforming a 230-acre former aluminium works into a green industrial park.

Why?

The first loan will enable a 200,000 metric tonne recycling facility to be built, creating 55 new jobs. This will recycle waste and separate the non-recyclable polymers to then go into the new ‘plastics-to-oils’ facility.

The second loan will contribute to the purchase of the equipment that will turn the left-over waste biomass into gas that can eventually be processed to a carbon-zero fuel, and will create a further 10 new jobs.

How?

Orthios aims to become become a fully carbon neutral operation by 2030 – 15 years ahead of the UK target, and have selected four core businesses to develop on site:

  • Material Recycling Facility (MRF)
  • Plastic to Oil (P2O)
  • Waste to Energy (W2E)
  • Biorefinery

Quote:

Sean McCormick, Orthios’ Chief Executive Officer: “This is a really innovative time for the waste and recycling sector because we are using technological developments to push the boundaries of what we are able to reclaim and re-use.

“Clearly, there are significant costs involved, which is why we are so pleased to have Close Brothers Asset Finance on board as an enlightened funder. Not only do they have a long history of working in this sector, but also adopt a partnership approach, advising and providing expert insight.”