Circular Economy Markets Fund: Investment Facilitation Grant – Funded projects

The Investment Facilitation Grant funding addresses small scale financial barriers faced by businesses to invest in infrastructure that diverts waste from landfill, targeting identified niche markets and opportunities in the circular economy.

Fund recipients

Announcement date: 29 September 2022

APR Plastics

This project will create Victoria’s first operational Advanced Chemical Recycling (ACR) facility, which will recycle soft plastics into oil to be used by the plastic manufacturing industry in the production of new plastics.

Background

Reports led by government research organisations including CSIRO show that Advanced Chemical Recycling (ACR) is the most economically viable solution for recycling soft plastics back into food grade plastics.

Using this ACR process, APR Plastics will convert kerbside plastic waste, including post-consumer soft plastics, into a plastic crude oil. This oil will be refined back into the raw material that can be used by the plastic manufacturing industry in the production of new plastics.

The funding will allow APR Plastics to move from its pilot research phase, capable of processing up to 1 tonne of plastic per day (365 tonnes per annum) to its commercial a

Funding: $250,000

Co-contribution: $3,550,000

Qenos

Funding to support Qenos to deliver a feasibility study assessing the viability of establishing a chemical recycling facility of residual plastics back into the raw ingredient for circular plastic manufacturing.

Background

Reports led by government research organisations including the CSIRO show that Advanced Chemical Recycling (ACR) is the most economically viable solution for recycling soft plastics back into food grade plastics.

This study included identifying required plastic feedstocks (household soft plastic and mixed plastics) to be reprocessed for use by Qenos in their existing manufacturing facilities to produce circular plastics. It also investigated suitable waste management and technology partners before proceeding to a full engineering and costing study suitable for financial investment decision.

Funding: $730,000

Co-contribution: $3,816,000