Recycling Technologies has entered administration. In a statement issued, London-based financial advisers Interpath Advisory said it had been appointed administrators to Recycling Technologies on 26 September. This follows Recycling Technologies’ unsuccessful process to seek additional investment.
Recycling Technologies was given £2 million by Zero Waste Scotland and had also struck deals worth £65 million for the forward sale of oil from its machine. It was also backed by Swindon borough council and generated upwards of £10 million via grants and investment rounds, but the project was hit by a string of delays after originally planning to have a machine operational in Scotland in 2018.
Operations ceased immediately upon the appointment of the joint administrators.