IntegriCo Partnership with Closed Loop Fund
IntegriCo Composites Inc., a leader in the composite industrial products manufacturing industry, is pleased to announce that it has entered into a strategic partnership with Closed Loop Fund to fund comprehensive recycling infrastructure as well as to expand its strategic sourcing programs in capturing increased volumes of landfill bound plastics.
"IntegriCo is turning what used to be a low value bale of mixed plastics into a higher value infrastructure product, thereby improving the value of the recycling mix and ensuring that hard to recycle plastics don't end up in the landfill or in waterways. We see this investment as helping unlock an important economic bottleneck in the recycling system." Said CLF Managing Partner, Rob Kaplan
“The investment made by Closed Loop Fund in IntegriCo will enable immediate and continued expansion of IntegriCo’s operations within its new Sarepta Louisiana manufacturing facility.” said Scott Mack, Chief Executive Officer of IntegriCo. “IntegriCo is rapidly expanding composite railroad tie manufacturing capacity based upon strong customer demand. The confidence in IntegriCo as displayed by Closed Loop Fund’s investment will enable IntegriCo to complete its 2nd manufacturing line in Sarepta prior to the end of 2017 resulting in capacity of 250,000 rail cross ties annually, while consuming in excess of 65 million pounds of recycled plastics. This expansion will also permit the continued production of new products including longer length rail ties and a recently redesigned composite grade crossing system. This is an important step with a great partner to continue execution of IntegriCo’s strategy to produce at least 1 million rail ties annually by the year 2020.”
About IntegriCo Composites
Founded in 2007, IntegriCo is a manufacturer of composite railway products including railway crossties and composite grade crossings. Utilizing patented manufacturing technology, IntegriCo produces its products from 100% recycled plastics. Since commencing operations, IntegriCo has diverted in excess of 70 million pounds of landfill bound plastics to the manufacture of valuable infrastructure products sold to a widely varied customer base. Current IntegriCo clients include Union Pacific railway, the US military through a multi-year contract with Rock island Arsenal as well as continuing international shipments to support the infrastructure of Germany and Russia.
About Closed Loop Fund
Founded in 2014, Closed Loop Fund is a social impact investment fund that provides cities and companies access to the capital required to build comprehensive recycling programs. Closed Loop Fund aims to invest $100 million by 2020 with the goal to create economic value for cities by increasing recycling rates in communities across America. Closed Loop Fund brings together the world’s largest consumer product, retail, and financial companies committed to finding a national solution to divert waste from landfills into the recycling stream in order to be used in the manufacturing supply chain. Key supporters include 3M, Coca-Cola, Colgate-Palmolive, Goldman Sachs, Johnson & Johnson Family of Consumer Companies, Keurig Green Mountain, Nestlé Waters North America, PepsiCo and the PepsiCo Foundation, Procter & Gamble, Unilever, Walmart and the Walmart Foundation. For more information, visit www.closedloopfund.com.