Gateshead recycling business to create new jobs via eight-figure HSBC UK funding

A North East recycling and haulage business is to boost the UK’s electronic and white goods recycling capabilities thanks to a eight figure funding package from HSBC UK.

Gateshead based GAP Group, which specialises in recycling electronic waste, will use the funding to purchase a new 50,000 sq ft polymer and metal separation plant that will separate the plastic components of electrical goods.

With this new machinery, the company will be able to safely break down difficult-to-recycle rigid plastics, melt them, and sell the raw material on to manufacturers to be used again in new products.

Previously the business had to ship certain recycles overseas to be recycled, but with this new facility, it will no longer need to. The plant will be ready to use at the end of May with HSBC UK’s investment creating 20 jobs within the company.

The investment will assist GAP Group to meet its net zero targets, with further steps being made to produce 38 per cent of its energy through solar power, aiding the new plastic plant’s power supply.

Ben Foster, relationship director at HSBC UK, commented: “It’s brilliant that GAP Group’s ambitions are helping us to reduce our recycling exports. Electronic devices can be complicated to recycle, so it’s been fantastic to work with a company that’s enabling them to become part of the circular economy.”

Peter Moody, director at GAP Group, added: “The team at HSBC UK have really taken time to understand our industry and support the needs of our business. They’ve been fully invested in our goals to achieve both a circular solution and net zero and we look forward to celebrating this milestone and continuing our relationship with them.”

By Matthew Neville – Senior Correspondent, Bdaily

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