Closed Loop Fund, an impact investment fund that makes below-market loans for recycling infrastructure, including household recycling carts, facilities, and technologies, announced its first three investments to bolster recycling infrastructure and reduce the over $5 billion dollars spent by cities annually on landfills. The initial capital includes $7.8 million from Closed Loop Fund, which helped to unlock an additional investment of $17 million from other public and private co-investors, totaling $24.8 million. Closed Loop Fund's first investee is a joint venture between QRS and Canusa-Hershman (CHR) to create a Plastic Recovery Facility (PRF) in Baltimore, Maryland that will provide a solution for recycling #3-#7 plastics. QRS and CHS will combine technology that can both separate these products and turn them back into raw materials for new products and packaging. The state-of-the-art facility will be able to process 4,500 tons of materials every month and will service a majority on the East Coast, according to The Closed Loop Fund.
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