Sterecycle Raises £5.1M in Equity Funding
Sterecycle, a London, UK-based waste treatment and renewable power company, has raised £5.1m in equity funding.
The round was led by new investor Finance Yorkshire (investing £1.25m). Another new investor, German businessman Lars Windhorst, and existing investors including Aston Hill Financial from Canada participated, injecting the remaining £3.85m.
The company intends to use the funds to increase capacity from 100,000 tonnes per annum (tpa) to 175,000 tpa by the third quarter of 2012.
Led by CEO Tom Shields, Sterecycle uses patented autoclave technology to steam process black bag household and industrial waste. The company is planning for a public listing next year so that we can raise additional funds to grow the business further and develop more sites across the UK.