Plastic-focused Yes Recycling secures six-figure sum from Lloyds Bank to complete new facility in Fife

A company focused on hard-to-recycle plastics has secured a six-figure sum from Bank of Scotland owner Lloyds to complete its new facility in Fife that marks its Scottish debut.

Yes Recycling, based in Buckinghamshire, says it is putting down roots in Glenrothes due to demand, where it will use patented recycling technology capable of handling 15,000 tonnes of plastic waste a year. This will see the likes of food wrappers, pet food pouches and cereal bags turned into reuse-able material, and other items used to create Ecosheet, which it said is a sustainable alternative to plywood for construction, retail, and agriculture industries. It is receiving £500,000 from Lloyds to finish the facility, including four manufacturing lines for recycling, and it will also hire and train specialist staff.

The firm last year received £1.5 million from Nestlé to kick-start building the Scottish site and in turn, support the confectionery giant in improving its circularity. The plastics will be collected by Cireco Scotland, a Dunfermline-based waste management company, at kerbside, sorted and bailed, and delivered to the Yes Recycling site to be processed, in what is billed as the first hard-to-recycle plastic collection and process within the UK, and with such items having previously gone straight into landfill, incinerated or exported.

Omer Kutluoglu, owner of Yes Recycling, said: “Developing innovative solutions for hard-to-recycle plastics is vital for our future environment and we are proud to be leading the way. Without the financial support we have received, we would not be in a position to bring this project to fruition. This site provides a blueprint for our business’ future. Recycling plastic is a global problem and we hope to bring our recycling solution to countries all over the world and tackle the issue as much as possible.”

Gareth Source, associate director at Lloyds Bank Invoice Finance said: “Seeing ambitious businesses like Yes Recycling understand and adopt sustainability like this will be a significant driver for growth as we head towards net zero. We are proud to support growth like this that will in turn, help keep the business expanding and provide local jobs opportunities. We will remain by the side of businesses across Scotland as they work to reach their full growth potential.”