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Investments to date – Circular Economy Investment Fund

Through our Circular Economy Investment Fund, we have approved a number of investments in exciting projects across small businesses in Scotland totalling £4.2 million pounds. 

We are investing a total of £18 million as grant funding in small and medium sized businesses who are helping to create a more circular economy through our Circular Economy Investment Fund. For businesses, the circular economy offers exciting opportunities for competitive advantage and business growth. Circular approaches build business resilience thanks to products that can be re-used, repaired or recycled or by transforming waste into raw materials.  Businesses across Scotland are already profiting, with our help. Some are designing products that can be repaired and remanufactured, opening new revenue streams, whilst others are leasing or hiring their services to retain ownership of the valuable products and components. 

Project funding is available from £50,000 to £1 million and is open to all sectors of industry in Scotland. Our funding is already helping businesses across a range of industries as demonstrated by the scope of examples of projects listed below.  These projects put circular economy business models into practice by turning waste streams into raw materials, encouraging access to products rather than ownership via hiring and leasing and also re-using materials such as household items. 

We are actively encouraging more applications for the Circular Economy Investment Fund from all sectors in Scotland, please contact us for more information. 

Some examples of our investments to date: 

Circulogic a circular economy consultancy business is introducing a national golf club take back and refurbishment scheme, with an investment of £55,591. 

CRNS is being funded £99,509 for a consortium furniture re-use operation across Scotland. This is the first approach of its kind and will transform the sector’s ability to deliver local solutions with a national strategic approach. 

Hamilton Waste is using £117,678 of circular economy investment in their mattress recovery operation involving the deconstruction and reprocessing of used mattresses in Edinburgh. The aim is to recover 2,000 tonnes of end of life mattresses with identified end markets for the constituent parts.  

Hydroklear  with an investment of £177,129 is now ready to bring to market a new innovative process that will recover copper from spent lees in whisky production, which will then be used to manufacture copper based chemicals.

Impact Laboratories in Grangemouth is developing an online portal and testing for the standardisation for polymer recycling in Scotland, as part of the Scottish Plastics Recycling Centre with an award of £107,796. 

Impact Recycling is implementing an innovative business model for equipment lease in waste polymer treatment in Grangemouth with an award of £97,800

Ingenza a world leading biotech business in Midlothian is being funded £191,393 to implement a highly innovative and carbon neutral approach to convert a gaseous waste stream (biobased substrates), into a useful chemical known as succinate. Succinate is a water-soluble, colourless crystal that is used in medicine, the manufacture of lacquers and perfume esters. It also has applications in foods as a sequestrant, buffer, and a neutralising agent.

Pennotec in Edinburgh is being funded £203,303 to commercialise chitin extraction from crustacean shell waste. Pennotec had successfully trialled the extraction of ‘chitin’ from crustacean shell waste and is now being funded to commercialise this business opportunity. Chitin is a sustainable natural resource that is under-used commercially but when stacked creates a strong composite material with bacteriostatic properties. Applications include cosmetics, surgical stitches and as a food thickening agent . With a thriving shellfish industry Scotland has a sustainable waste stream ready for harvesting.   

Recycling Technologies  in Perth and Kinross is being funded £1 million to develop Plaxx, a low sulphur HFO replacement from residual waste plastic, which can be developed into a commercially viable hydrocarbon product used as a heavy fuel oil alternative or used to make virgin plastic. 

Pi-polymers Recycling in Perth and Kinross is being funded £574,750 for near infrared optical sort of mixed rigid polymers. 

Xanthella in Oban with a £581,507 investment is looking at algal production from whisky by-products.  This project will enable new industry in rural areas that simultaneously increases the strength of the rural circular economy by enabling better use of stranded timber and distillery co-products.  

Universal Resource Trading is delivering a project looking at the re-use of university R&D equipment across Scotland with an investment of £91,609

The £18 million Circular Economy Investment Fund, administered by Zero Waste Scotland, offers investment for SMEs based in Scotland and supports work that will deliver circular economy growth. It is supported by the European Regional Development Fund through the £73million Resource Efficiency Circular Economy Accelerator Programme.

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