Closed Loop Partners invests $2M in Reterra

Closed Loop Partners, New York, plans to invest $2 million in Reterra Corp., a Houston-based advanced recycling company. Reterra turns waste byproduct streams of polyethylene terephthalate (PET) plastic that are produced in the recycling process into high-value intermediary products. 

“Reterra’s advanced process serves a critical role in lowering the cost of PET recycling by capturing even the smallest discards of material and making a high-value product from them. This solves a system-wide issue that will become increasingly important as the market for recycled plastics continues to grow,” says Ron Gonen, CEO of Closed Loop Partners. 

According to a news release from Closed Loop Partners on its investment in Reterra, Reterra’s technology transforms the discards into a liquid intermediary that becomes useful feedstock for a number of different applications. The investment from Closed Loop Partners will help finance the move into Reterra’s recently acquired new facility and upgrade equipment to increase capacity and meet new customer demands. Closed Loop reports that the new plant will double capacity immediately, allowing the company to increase processing to about 100 million pounds of materially annually in two years.

“For the last five years we’ve been operating at capacity, but with the help of Closed Loop Partners we are now able to take our business to the next level and capitalize on the growing market demand for our products,” says Jason Ball, president of Reterra. 

The investment comes via Closed Loop Partners’ Infrastructure Fund, its first project finance fund. The fund is backed by large brands and retailers and aims to build recycling and circular economy infrastructure across the U.S. to better recapture materials and return them to manufacturing supply chains.