[ad_1]
Circular Services is majority owned and operated by Closed Loop Partners. Brookfield is committing up to $700 million to the growth of Circular Services through its Brookfield Global Transition Fund (“BGTF”), which is the largest fund in the world focused on accelerating the transition to a net zero economy. Brookfield has invested an initial $200 million in Circular Services, with an additional $500 million dedicated to growth opportunities. Closed Loop Partners also includes the Partnership Fund for New York as an investor in Circular Services.
Circular Services will be the largest private recycling company in North America, including major municipal and commercial contracts for the recycling and reuse of paper, metal, glass, plastic, organics, textiles and electronics in New York, New Jersey, Pennsylvania, Arkansas, Florida, Texas and Arizona. The company owns or operates 12 facilities, several long-term municipal and commercial contracts, a total annual recycling capacity of over one million tons and a large number of real opportunities for growth.
Circular Services uses advanced technology to improve the sorting, processing and reuse of valuable products, including consumer packaging, organics, textiles, electronics and more, for continuous reuse in domestic supply chains. Its facilities increase the number of sustainable jobs in the communities they serve, promote local commerce and remanufacturing, and enable resilient communities.
“The United States has operated with a very linear product manufacturing and waste management system for the past 75 years, costing municipalities and businesses billions of dollars in landfills and harming our environment,” said Ron Gonen, founder and CEO of Closed Loop Partners.
“Circular Services is building a circular economy infrastructure that will serve the financial and environmental interests of cities, consumers and businesses. We are excited to accelerate the transition to a circular economy, an economic system that invests in the continuous use of goods, reducing reliance on natural resource extraction and landfills.”
Natalie Adomait, Managing Partner and Chief Investment Officer of BGTF, adds: “We cannot create a net zero economy without significantly scaling the infrastructure needed for a circular economy. Brookfield has developed a transition investment plan, combining a prudent and patient approach to long-term infrastructure development with emerging business models that are critical to reducing carbon emissions while generating attractive risk-adjusted returns for our investors. We look forward to working with Closed Loop Partners, clear leaders in the circular economy sector, to support Circular Services to increase their impact across the United States.
Related companies
[ad_2]
Source link
