US Blue Earth raises $14m to expand PS recycling

03 September 2008 14:37  [Source: ICIS news]

TORONTO (ICIS news)--Blue Earth Solutions has raised $14.1m (€9.7m) in a private placement to expand production, the Florida-based producer of recycled polystyrene (PS) pellets said on Wednesday.

 

The money would be used to invest in new locations and secure new facilities and capital equipment, the company said.

 

As part of its expansion strategy, Blue Earth had also finalised a $4.1m purchase order for eight new StyroSolve extrusion systems, adding capacity of about 20,000 lbs of PS recycling per hour, it said.

 

The company's patented recycling system provided an environmentally safe process to reduce expanded PS (EPS) waste and recycle it into high quality reusable PS pellets for use in EPS manufacturing applications, it said.

 

($1 = €0.69)

 

To discuss issues facing the chemical industry go to ICIS connect

By: Stefan Baumgarten
+1 713 525 2653

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly