Umincorp, the Dutch recycler of plastic waste, has raised €15M for its innovative plastic recycling plant. With Rotterdam having set an aggressive goal to become a circular economy, Umincorp (Urban Mining Corp) will play a key role in transforming all the plastic waste into raw materials. With the funding, the company is taking the next step in recycling plastics from the waste stream of households.
In Europe, only 42 per cent of plastic packaging post-consumer waste is recycled and the European Directive has set a target of 55 per cent plastic packing waste recycling rate by 2030. With plastic continuing to be the preferred material of the industry, Rotterdam-based Umincorp is looking at more efficient ways of recycling plastics.